Vestmark Advisory Solutions Inc. Raises Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in SiteOne Landscape Supply by 135.3% during the first quarter, owning approximately 0.10% of the company valued at $5.5 million.
• SiteOne's latest quarterly earnings showed an EPS of $2.86, missing estimates but reflecting a 3.4% year-over-year revenue increase with total revenue of $1.46 billion.
• Analysts have mixed views on SiteOne, with some downgrading their price targets while maintaining a consensus rating of "Hold" and an average target price of $147.

Vestmark Advisory Solutions Inc. increased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 135.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,498 shares of the industrial products company's stock after purchasing an additional 26,159 shares during the quarter. Vestmark Advisory Solutions Inc. owned about 0.10% of SiteOne Landscape Supply worth $5,525,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Bamco Inc. NY increased its position in shares of SiteOne Landscape Supply by 4.6% during the fourth quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock worth $217,786,000 after acquiring an additional 72,430 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of SiteOne Landscape Supply by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company's stock worth $210,570,000 after acquiring an additional 91,719 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in SiteOne Landscape Supply by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock valued at $143,733,000 after purchasing an additional 16,120 shares in the last quarter. Ameriprise Financial Inc. grew its position in SiteOne Landscape Supply by 12.9% in the fourth quarter. Ameriprise Financial Inc. now owns 637,409 shares of the industrial products company's stock valued at $83,989,000 after purchasing an additional 73,010 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in SiteOne Landscape Supply by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 631,328 shares of the industrial products company's stock valued at $83,190,000 after purchasing an additional 27,409 shares in the last quarter.

SiteOne Landscape Supply Price Performance

Shares of SiteOne Landscape Supply stock traded down $1.12 on Friday, reaching $140.21. The stock had a trading volume of 394,456 shares, compared to its average volume of 740,748. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $160.74. The company has a market cap of $6.25 billion, a P/E ratio of 51.17, a price-to-earnings-growth ratio of 2.33 and a beta of 1.54. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The business's 50 day moving average is $128.20 and its two-hundred day moving average is $124.79.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%. The company's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $2.63 earnings per share. As a group, research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Royal Bank Of Canada lifted 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 research note on Thursday, July 31st. Stifel Nicolaus decreased their target price 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 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, SiteOne Landscape Supply has a consensus rating of "Hold" and an average target price of $147.00.

Insider Buying and Selling at SiteOne Landscape Supply

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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Doug Black sold 7,384 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $132.09, for a total value of $975,352.56. Following the transaction, the chief executive officer directly owned 600,446 shares of the company's stock, valued at $79,312,912.14. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is currently owned by company insiders.

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.