SiteOne Landscape Supply, Inc. $SITE Stock Position Boosted by Invesco Ltd.

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. increased its position in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 108.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,504 shares of the industrial products company's stock after purchasing an additional 161,263 shares during the quarter. Invesco Ltd. owned 0.69% of SiteOne Landscape Supply worth $37,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. OneDigital Investment Advisors LLC raised its holdings in SiteOne Landscape Supply by 22.3% in the first quarter. OneDigital Investment Advisors LLC now owns 1,877 shares of the industrial products company's stock valued at $228,000 after acquiring an additional 342 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in SiteOne Landscape Supply by 124.5% in the first quarter. Teacher Retirement System of Texas now owns 8,886 shares of the industrial products company's stock valued at $1,079,000 after acquiring an additional 4,927 shares in the last quarter. GAMMA Investing LLC raised 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SiteOne Landscape Supply by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 555,858 shares of the industrial products company's stock valued at $67,503,000 after acquiring an additional 2,951 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in SiteOne Landscape Supply by 18.3% in the first quarter. TD Asset Management Inc now owns 61,389 shares of the industrial products company's stock valued at $7,455,000 after acquiring an additional 9,496 shares in the last quarter.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE traded up $9.17 on Friday, reaching $147.20. 562,405 shares of the company's stock were exchanged, compared to its average volume of 652,742. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 53.72, a PEG ratio of 2.30 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The business's 50-day moving average is $129.99 and its two-hundred day moving average is $125.07. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.49 billion. During the same period last year, the company posted $2.63 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In related news, CEO Doug Black sold 7,384 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $132.09, for a total value of $975,352.56. Following the sale, the chief executive officer owned 600,446 shares of the company's stock, valued at $79,312,912.14. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 13,663 shares in the company, valued at approximately $1,725,363.64. This trade 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 worth $9,828,465. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SITE. Truist Financial cut 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 report on Thursday, May 1st. Royal Bank Of Canada upped 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 report on Thursday, July 31st. Stifel Nicolaus cut 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 report on Monday, April 28th. Finally, Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $147.00.

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.