Public Employees Retirement System of Ohio Sells 2,764 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in SiteOne Landscape Supply by 5.9%, selling 2,764 shares, while still holding 44,138 shares worth $5.34 million at the end of the period.
• Several hedge funds increased their positions in SiteOne Landscape Supply, with Price T Rowe Associates boosting its stake by 12.2% and Jackson Square Partners by an astonishing 2,732.2% in the first quarter.
• SiteOne Landscape Supply reported Q2 earnings with an EPS of $2.86, missing estimates slightly while its quarterly revenue increased by 3.4% year-over-year.

Public Employees Retirement System of Ohio trimmed its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,138 shares of the industrial products company's stock after selling 2,764 shares during the period. Public Employees Retirement System of Ohio owned about 0.10% of SiteOne Landscape Supply worth $5,338,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SITE. Price T Rowe Associates Inc. MD raised its stake in shares of SiteOne Landscape Supply by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company's stock worth $738,309,000 after purchasing an additional 660,081 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in SiteOne Landscape Supply by 31.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company's stock valued at $254,143,000 after acquiring an additional 494,737 shares during the period. Jackson Square Partners LLC raised its stake in SiteOne Landscape Supply by 2,732.2% in the 1st quarter. Jackson Square Partners LLC now owns 176,755 shares of the industrial products company's stock valued at $21,465,000 after acquiring an additional 170,514 shares during the period. Invesco Ltd. raised its stake in SiteOne Landscape Supply by 108.8% in the 1st quarter. Invesco Ltd. now owns 309,504 shares of the industrial products company's stock valued at $37,586,000 after acquiring an additional 161,263 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in SiteOne Landscape Supply by 21.3% in the 1st quarter. Ameriprise Financial Inc. now owns 773,358 shares of the industrial products company's stock valued at $93,913,000 after acquiring an additional 135,949 shares during the period.

SiteOne Landscape Supply Price Performance

SITE stock opened at $127.46 on Tuesday. 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 one year low of $101.25 and a one year high of $160.74. The stock has a market cap of $5.69 billion, a PE ratio of 46.52, a P/E/G ratio of 2.16 and a beta of 1.60. The firm has a 50 day simple moving average of $138.42 and a two-hundred day simple moving average of $126.46.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.86 EPS 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 company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the prior year, the firm earned $2.63 EPS. SiteOne Landscape Supply's quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, CEO Doug Black sold 29,760 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Loop Capital upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and boosted their price objective for the company from $150.00 to $160.00 in a research note on Friday, September 19th. Finally, Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of "Hold" and a consensus price target of $150.50.

About SiteOne Landscape Supply

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.

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