Rhumbline Advisers Acquires 2,635 Shares of 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 lifted its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,037 shares of the industrial products company's stock after buying an additional 2,635 shares during the quarter. Rhumbline Advisers owned about 0.11% of SiteOne Landscape Supply worth $6,076,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. State of Wyoming raised its holdings in shares of SiteOne Landscape Supply by 6.2% in the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock valued at $183,000 after buying an additional 81 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 purchasing an additional 95 shares during the last quarter. NewEdge Advisors LLC raised 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 during the last quarter. Deutsche Bank AG raised its holdings in SiteOne Landscape Supply by 3.9% during the 1st quarter. Deutsche Bank AG now owns 3,228 shares of the industrial products company's stock worth $392,000 after purchasing an additional 121 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in 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 worth $33,000 after purchasing an additional 139 shares during the last quarter.

Insider Activity

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

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock traded up $2.69 during trading on Tuesday, hitting $141.09. 504,325 shares of the stock were exchanged, compared to its average volume of 520,709. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 51.49, a price-to-earnings-growth ratio of 2.33 and a beta of 1.60. The company has a fifty day moving average price of $137.33 and a 200-day moving average price of $125.94. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35.

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

Analysts Set New Price Targets

Several analysts have weighed in on SITE shares. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. 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 report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $147.00.

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.