Petrus Trust Company LTA Makes New $404,000 Investment in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Petrus Trust Company LTA acquired 3,326 shares of SiteOne Landscape Supply, Inc., valued at approximately $404,000, marking a significant investment in the company during the first quarter.
• Royal Bank Of Canada raised its price target for SiteOne shares from $130.00 to $143.00, indicating positive sentiment as part of a broader analyst upgrade trend.
• SiteOne Landscape Supply reported $2.86 EPS for the last quarter, slightly missing estimates, while the company's revenue of $1.46 billion showed a 3.4% increase compared to the previous year.

Petrus Trust Company LTA bought a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 3,326 shares of the industrial products company's stock, valued at approximately $404,000.

A number of other hedge funds also recently made changes to their positions in the business. HM Payson & Co. bought a new stake in SiteOne Landscape Supply in the 1st quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in SiteOne Landscape Supply in the 1st quarter valued at about $32,000. Golden State Wealth Management LLC raised its stake in SiteOne Landscape Supply by 106.1% in the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 139 shares during the period. Eastern Bank bought a new stake in SiteOne Landscape Supply in the 1st quarter valued at about $38,000. Finally, NewEdge Advisors LLC lifted its holdings in SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock worth $48,000 after purchasing an additional 107 shares in the last quarter.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black sold 29,760 shares of SiteOne Landscape Supply stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 596,684 shares of the company's stock, valued at $77,139,307.52. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction dated 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 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. This represents a 74.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,784 shares of company stock valued at $9,828,465 in the last three months. Insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Price Performance

NYSE SITE traded up $0.66 on Wednesday, reaching $143.17. 554,644 shares of the company's stock traded hands, compared to its average volume of 508,639. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month 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. The stock has a 50-day simple moving average of $136.40 and a 200 day simple moving average of $125.65. The stock has a market cap of $6.39 billion, a PE ratio of 52.25, a P/E/G ratio of 2.38 and a beta of 1.60.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $2.63 EPS. As a group, research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SITE shares. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Royal Bank Of Canada upped their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Four equities 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $147.00.

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.