Invesco Ltd. Has $37.59 Million Stake in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Invesco Ltd. increased its stake in SiteOne Landscape Supply by 108.8%, owning approximately 309,504 shares worth $37.6 million as of the end of the first quarter.
• SiteOne Landscape Supply reported a quarterly EPS of $2.86, missing analysts' expectations, while revenue of $1.46 billion reflected a 3.4% increase year-over-year.
• Insider trading activity saw CEO Doug Black selling 7,384 shares, reducing his position by 1.21%, alongside other executives selling significant amounts of stock in the past 90 days.

Invesco Ltd. boosted its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 108.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,504 shares of the industrial products company's stock after buying an additional 161,263 shares during the period. Invesco Ltd. owned approximately 0.69% of SiteOne Landscape Supply worth $37,586,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HM Payson & Co. acquired a new stake in SiteOne Landscape Supply during the first quarter worth about $25,000. Golden State Wealth Management LLC grew its stake in SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after buying an additional 139 shares in the last quarter. Eastern Bank acquired a new stake in SiteOne Landscape Supply during the first quarter worth about $38,000. GAMMA Investing LLC grew its stake in SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after buying an additional 95 shares in the last quarter. Finally, State of Wyoming grew its stake in 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 buying an additional 81 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Truist Financial reduced their price target on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus reduced their price target on shares of 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. Finally, Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $147.00.

Insider Buying and Selling

In other news, CEO Doug Black sold 29,760 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $129.28, for a total value of $3,847,372.80. Following the transaction, the chief executive officer owned 596,684 shares in the company, valued at approximately $77,139,307.52. The trade was a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Ketter sold 39,640 shares of the business'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 transaction of $5,005,739.20. Following the completion of the transaction, the executive vice president owned 13,663 shares in the company, valued at $1,725,363.64. This trade represents a 74.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,784 shares of company stock worth $9,828,465 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Trading Up 6.6%

NYSE SITE traded up $9.17 during trading hours on Friday, reaching $147.20. The company's stock had a trading volume of 562,405 shares, compared to its average volume of 652,742. The firm has a fifty day simple moving average of $129.99 and a 200-day simple moving average of $124.99. The stock has a market cap of $6.57 billion, a P/E ratio of 53.72, a P/E/G ratio of 2.46 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.89 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.63 EPS. Equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

SiteOne Landscape Supply Profile

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.