MQS Management LLC Buys New Shares in SiteOne Landscape Supply, Inc. (NYSE:SITE)

MQS Management LLC bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,311 shares of the industrial products company's stock, valued at approximately $281,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in SiteOne Landscape Supply by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company's stock valued at $548,503,000 after purchasing an additional 49,256 shares in the last quarter. Wasatch Advisors LP raised its position in SiteOne Landscape Supply by 9.7% in the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock valued at $228,107,000 after purchasing an additional 153,447 shares in the last quarter. Bamco Inc. NY raised its position in SiteOne Landscape Supply by 4.6% in the 4th quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock valued at $217,786,000 after purchasing an additional 72,430 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in 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 in the last quarter. Finally, Conestoga Capital Advisors LLC raised its position in SiteOne Landscape Supply by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock valued at $143,733,000 after purchasing an additional 16,120 shares in the last quarter.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, 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 transaction of $5,005,739.20. Following the completion of the transaction, the executive vice president directly owned 13,663 shares of the company's stock, valued at approximately $1,725,363.64. The trade was a 74.37% 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, 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 value of $3,847,372.80. Following the transaction, the chief executive officer directly owned 596,684 shares of the company's stock, valued at approximately $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SITE. Deutsche Bank Aktiengesellschaft began coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They set a "hold" rating and a $135.00 target price on the stock. Royal Bank Of Canada cut their price target on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Barclays cut their price target on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $145.70.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock traded down $0.97 during midday trading on Friday, hitting $124.41. The company had a trading volume of 391,355 shares, compared to its average volume of 484,603. The company's 50 day simple moving average is $122.28 and its 200 day simple moving average is $125.45. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $160.74. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 49.60, a PEG ratio of 2.03 and a beta of 1.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.36 and a quick ratio of 0.97.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The company had revenue of $939.40 million during the quarter, compared to analysts' expectations of $933.90 million. During the same quarter last year, the business posted ($0.43) earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

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.