SiteOne Landscape Supply, Inc. (NYSE:SITE) Holdings Raised by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in SiteOne Landscape Supply by 18.3%, holding 61,389 shares valued at approximately $7.45 million.
• SiteOne Landscape Supply's quarterly earnings reported $2.86 per share, missing analysts' expectations, while revenues of $1.46 billion also fell short of forecasts.
• Analysts have set varying price targets for SiteOne's stock, with a consensus rating of “Hold” and an average price target of $147.00.

TD Asset Management Inc lifted its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 18.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,389 shares of the industrial products company's stock after purchasing an additional 9,496 shares during the quarter. TD Asset Management Inc owned 0.14% of SiteOne Landscape Supply worth $7,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. LPL Financial LLC boosted its holdings in SiteOne Landscape Supply by 28.2% in the fourth quarter. LPL Financial LLC now owns 26,928 shares of the industrial products company's stock valued at $3,548,000 after acquiring an additional 5,930 shares during the last quarter. Pictet Asset Management Holding SA grew its position in SiteOne Landscape Supply by 7.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,279 shares of the industrial products company's stock valued at $827,000 after purchasing an additional 432 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of SiteOne Landscape Supply by 395.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock worth $45,000 after acquiring an additional 273 shares in the last quarter. California Public Employees Retirement System increased its position in shares of SiteOne Landscape Supply by 3.6% during the fourth quarter. California Public Employees Retirement System now owns 66,512 shares of the industrial products company's stock worth $8,764,000 after acquiring an additional 2,306 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of SiteOne Landscape Supply by 14.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,776 shares of the industrial products company's stock worth $234,000 after acquiring an additional 219 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on SITE. Barclays decreased their target price on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Loop Capital reduced their target price on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a report on Friday, April 4th. Stifel Nicolaus decreased their price target 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. Truist Financial decreased their target price on shares of 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 shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $147.00.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was 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 of the company's stock, 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 SEC, which is accessible through this link. Also, CEO Doug Black sold 7,384 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $132.09, for a total transaction of $975,352.56. Following the transaction, the chief executive officer directly owned 600,446 shares in the company, valued at $79,312,912.14. The trade was a 1.21% 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 valued at $9,828,465 over the last ninety days. 2.60% of the stock is owned by insiders.

SiteOne Landscape Supply Trading Down 1.0%

Shares of SITE traded down $1.42 during midday trading on Friday, reaching $136.41. The company had a trading volume of 729,198 shares, compared to its average volume of 641,881. The firm has a 50 day simple moving average of $124.40 and a 200-day simple moving average of $125.51. The stock has a market cap of $6.09 billion, a PE ratio of 49.78, a price-to-earnings-growth ratio of 2.49 and a beta of 1.54. The company has a quick ratio of 0.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.63 EPS. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

SiteOne Landscape Supply 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.