LPL Financial LLC Grows Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• LPL Financial LLC increased its stake in SiteOne Landscape Supply, Inc. by 10.8%, owning a total of 29,841 shares worth approximately $3.6 million after acquiring an additional 2,913 shares.
• SiteOne Landscape Supply's quarterly earnings were reported at $2.86 per share, which was below analysts' expectations of $2.89, with a revenue of $1.46 billion.
• Insiders, including CEO Doug Black, have sold significant shares recently, with a total of 76,784 shares sold by insiders valued at nearly $9.83 million in the last three months.

LPL Financial LLC increased its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 10.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,841 shares of the industrial products company's stock after buying an additional 2,913 shares during the quarter. LPL Financial LLC owned about 0.07% of SiteOne Landscape Supply worth $3,624,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SITE. BLI Banque de Luxembourg Investments purchased a new position in shares of SiteOne Landscape Supply in the 4th quarter valued at approximately $22,787,000. T. Rowe Price Investment Management Inc. grew its stake in shares of SiteOne Landscape Supply by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company's stock valued at $210,570,000 after purchasing an additional 91,719 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter valued at approximately $9,695,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of SiteOne Landscape Supply in the 4th quarter valued at approximately $9,883,000. Finally, Ameriprise Financial Inc. grew its stake in shares of SiteOne Landscape Supply by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 637,409 shares of the industrial products company's stock valued at $83,989,000 after purchasing an additional 73,010 shares during the last quarter.

SiteOne Landscape Supply Price Performance

SITE stock traded down $5.0950 during midday trading on Wednesday, hitting $137.4050. 552,825 shares of the stock were exchanged, compared to its average volume of 699,007. The stock's 50-day moving average price is $129.12 and its 200-day moving average price is $124.99. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 2.38 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 company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41.

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 the consensus estimate of $2.89 by ($0.03). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.63 earnings per share. Research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on SITE shares. Truist Financial reduced their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus reduced their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a report on Monday, April 28th. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada raised their price target 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. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $147.00.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, CEO Doug Black sold 29,760 shares of SiteOne Landscape Supply stock in a transaction on Friday, July 11th. The stock was sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the completion of the transaction, the chief executive officer directly owned 596,684 shares of the company's stock, valued at approximately $77,139,307.52. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is currently owned by insiders.

SiteOne Landscape Supply Company 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.