Nuveen LLC Makes New Investment in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Nuveen LLC has acquired a new position in SiteOne Landscape Supply, purchasing 134,366 shares valued at approximately $16.3 million, which represents a 0.30% ownership in the company.
• SiteOne Landscape Supply's CEO, Doug Black, recently sold approximately 29,760 shares, leading to a 4.75% decrease in his overall ownership in the company.
• Brokerages have updated their ratings and price targets for SiteOne, with Royal Bank of Canada increasing their target from $130 to $143 and Wall Street Zen changing their rating from "sell" to "hold."

Nuveen LLC acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 134,366 shares of the industrial products company's stock, valued at approximately $16,317,000. Nuveen LLC owned about 0.30% of SiteOne Landscape Supply at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SITE. XTX Topco Ltd bought a new position in SiteOne Landscape Supply in the fourth quarter valued at approximately $386,000. Marshall Wace LLP bought a new position in SiteOne Landscape Supply in the fourth quarter valued at approximately $447,000. Canada Pension Plan Investment Board increased its stake in SiteOne Landscape Supply by 4,720.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 24,100 shares of the industrial products company's stock valued at $3,176,000 after acquiring an additional 23,600 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in SiteOne Landscape Supply by 5.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 9,940 shares of the industrial products company's stock valued at $1,307,000 after acquiring an additional 547 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in SiteOne Landscape Supply by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 631,328 shares of the industrial products company's stock valued at $83,190,000 after acquiring an additional 27,409 shares during the last quarter.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction on Friday, July 25th. The shares were sold at an average price of $132.09, for a total transaction of $975,352.56. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were 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 approximately $1,725,363.64. The trade was a 74.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is currently owned by insiders.

SiteOne Landscape Supply Trading Up 6.6%

Shares of SiteOne Landscape Supply stock traded up $9.17 during trading on Friday, hitting $147.20. The company's stock had a trading volume of 562,405 shares, compared to its average volume of 652,742. 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, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 53.73, a price-to-earnings-growth ratio of 2.46 and a beta of 1.54. The stock has a 50-day moving average price of $129.99 and a two-hundred day moving average price 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 earnings per share 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 during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned $2.63 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada boosted their target price on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Stifel Nicolaus decreased their target price 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, Truist Financial decreased their target price 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. Four research 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 data from MarketBeat.com, SiteOne Landscape Supply 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.