Quantbot Technologies LP Invests $3.33 Million in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Quantbot Technologies LP has acquired 27,380 shares of SiteOne Landscape Supply, valued at approximately $3.3 million, marking a new investment in the company during the first quarter.
• Multiple analysts have adjusted their price targets for SiteOne Landscape Supply, with Truist Financial lowering it to $145 and Royal Bank of Canada increasing it to $143, reflecting varying sentiments in the market.
• Insider trading activity includes CEO Doug Black and EVP Joseph Ketter selling shares, with insiders selling a total of 76,784 shares worth nearly $9.8 million over the last quarter.

Quantbot Technologies LP bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 27,380 shares of the industrial products company's stock, valued at approximately $3,325,000. Quantbot Technologies LP owned 0.06% of SiteOne Landscape Supply as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. HM Payson & Co. acquired a new position in shares of SiteOne Landscape Supply during the 1st quarter valued at $25,000. Brooklyn Investment Group acquired a new position in shares of SiteOne Landscape Supply during the 1st quarter valued at $32,000. Golden State Wealth Management LLC lifted its position in shares of SiteOne Landscape Supply by 106.1% during 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 acquired a new position in shares of SiteOne Landscape Supply during the 1st quarter valued at $38,000. Finally, GAMMA Investing LLC lifted its position in shares of SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 95 shares during the period.

SiteOne Landscape Supply Stock Up 6.6%

Shares of NYSE SITE traded up $9.17 during trading on Friday, hitting $147.20. The stock had a trading volume of 562,405 shares, compared to its average volume of 652,742. 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 company has a market capitalization of $6.57 billion, a PE ratio of 53.72, a PEG ratio of 2.30 and a beta of 1.54. The firm has a fifty day moving average of $129.99 and a two-hundred day moving average of $125.07.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results 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). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned $2.63 EPS. The business's revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Royal Bank Of Canada upped their price objective on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Truist Financial lowered their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $147.00.

Insider Activity

In related news, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction dated 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. This represents a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Doug Black sold 29,760 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 596,684 shares of the company's stock, valued at $77,139,307.52. This represents a 4.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is owned by company insiders.

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.