Hill City Capital LP Makes New $5.13 Million Investment in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Hill City Capital LP invested approximately $5.13 million in SiteOne Landscape Supply by purchasing 42,250 shares, making it the fund's 17th largest holding.
• Analysts have varied opinions on the stock, with target prices ranging from $126.00 to $165.00, and a consensus rating of "Hold" based on mixed performance.
• SiteOne Landscape Supply reported a 3.4% year-over-year revenue increase, but missed earnings expectations with an EPS of $2.86, below the consensus estimate of $2.89.

Hill City Capital LP purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 42,250 shares of the industrial products company's stock, valued at approximately $5,131,000. SiteOne Landscape Supply comprises 0.4% of Hill City Capital LP's investment portfolio, making the stock its 17th largest holding. Hill City Capital LP owned about 0.09% of SiteOne Landscape Supply as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Wyoming grew its holdings in shares of SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock worth $183,000 after purchasing an additional 81 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SiteOne Landscape Supply by 24.3% in the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 95 shares during the last quarter. Deutsche Bank AG boosted its holdings in SiteOne Landscape Supply by 3.9% in the first quarter. Deutsche Bank AG now owns 3,228 shares of the industrial products company's stock valued at $392,000 after acquiring an additional 121 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 139 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in SiteOne Landscape Supply by 1.4% in the first quarter. DAVENPORT & Co LLC now owns 11,121 shares of the industrial products company's stock valued at $1,351,000 after acquiring an additional 153 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Royal Bank Of Canada upped their target price on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial cut their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus dropped their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $147.00.

SiteOne Landscape Supply Stock Down 1.8%

Shares of NYSE SITE opened at $144.6370 on Tuesday. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $160.74. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.46 and a beta of 1.54. The business has a 50-day moving average of $130.49 and a 200-day moving average of $124.99.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the firm posted $2.63 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 7,384 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the sale, the chief executive officer owned 600,446 shares of the company's stock, valued at $79,312,912.14. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total value of $5,005,739.20. Following the completion of the sale, the executive vice president directly owned 13,663 shares of the company's stock, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is owned by insiders.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.

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