Rhumbline Advisers Has $6.08 Million Stock Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Rhumbline Advisers increased its holdings in SiteOne Landscape Supply by 5.6%, acquiring an additional 2,635 shares, bringing its total ownership to 50,037 shares valued at approximately $6.08 million.
• Insider transactions saw EVP Joseph Ketter and CEO Doug Black sell 39,640 and 29,760 shares respectively, indicating a decrease in their ownership by 74.37% and 4.75%.
• Analysts have upgraded SiteOne's stock rating, with Royal Bank of Canada raising the price target from $130 to $143, and the overall consensus rating is now a "Hold" with a price target of $147.

Rhumbline Advisers boosted its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,037 shares of the industrial products company's stock after buying an additional 2,635 shares during the period. Rhumbline Advisers owned approximately 0.11% of SiteOne Landscape Supply worth $6,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SITE. Baird Financial Group Inc. raised its position in SiteOne Landscape Supply by 6.3% during the fourth quarter. Baird Financial Group Inc. now owns 3,113 shares of the industrial products company's stock valued at $410,000 after buying an additional 184 shares during the period. D. E. Shaw & Co. Inc. raised its position in SiteOne Landscape Supply by 67.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 32,589 shares of the industrial products company's stock valued at $4,294,000 after buying an additional 13,149 shares during the period. Jefferies Financial Group Inc. acquired a new position in SiteOne Landscape Supply during the fourth quarter valued at $233,000. Janus Henderson Group PLC raised its position in SiteOne Landscape Supply by 4.8% during the fourth quarter. Janus Henderson Group PLC now owns 52,163 shares of the industrial products company's stock valued at $6,868,000 after buying an additional 2,379 shares during the period. Finally, Millennium Management LLC raised its position in SiteOne Landscape Supply by 461.6% during the fourth quarter. Millennium Management LLC now owns 51,492 shares of the industrial products company's stock valued at $6,785,000 after buying an additional 42,323 shares during the period.

Insider Activity

In related news, CEO Doug Black sold 7,384 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $132.09, for a total transaction of $975,352.56. Following the completion of the sale, the chief executive officer owned 600,446 shares in the company, valued at $79,312,912.14. This represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the sale, the executive vice president owned 13,663 shares of the company's stock, 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 quarter, insiders have sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SITE shares. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Royal Bank Of Canada boosted their target price 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. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $147.00.

SiteOne Landscape Supply Stock Up 0.9%

Shares of SITE traded up $1.28 during trading hours on Thursday, hitting $137.17. 154,974 shares of the company were exchanged, compared to its average volume of 519,807. The company has a market cap of $6.12 billion, a PE ratio of 50.06, a PEG ratio of 2.35 and a beta of 1.60. The firm's 50 day moving average is $137.45 and its 200-day moving average is $126.01. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41.

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

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.