27,380 Shares in SiteOne Landscape Supply, Inc. $SITE Bought by Quantbot Technologies LP

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 purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 22.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,877 shares of the industrial products company's stock worth $228,000 after purchasing an additional 342 shares during the period. Teacher Retirement System of Texas lifted its stake in SiteOne Landscape Supply by 124.5% during the 1st quarter. Teacher Retirement System of Texas now owns 8,886 shares of the industrial products company's stock worth $1,079,000 after acquiring an additional 4,927 shares in the last quarter. GAMMA Investing LLC lifted its stake in SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after acquiring an additional 95 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SiteOne Landscape Supply by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 555,858 shares of the industrial products company's stock worth $67,503,000 after acquiring an additional 2,951 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in SiteOne Landscape Supply by 18.3% during the 1st quarter. TD Asset Management Inc now owns 61,389 shares of the industrial products company's stock worth $7,455,000 after acquiring an additional 9,496 shares in the last quarter.

Insider Transactions at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 39,640 shares of the 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 sale, the executive vice president owned 13,663 shares in the company, valued at approximately $1,725,363.64. This trade 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 firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,784 shares of company stock worth $9,828,465. Company insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Price Performance

SITE traded down $0.3150 during trading on Monday, reaching $146.9050. 84,786 shares of the stock were exchanged, compared to its average volume of 515,284. 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 1 year low of $101.25 and a 1 year high of $160.74. The business's 50 day moving average price is $129.99 and its two-hundred day moving average price is $124.91. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 53.62, a P/E/G ratio of 2.46 and a beta of 1.54.

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 (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the company earned $2.63 earnings per share. The firm's revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SITE shares. Royal Bank Of Canada increased their target price on 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 cut their target price 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. Truist Financial cut their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Four investment 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 MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.