Price T Rowe Associates Inc. MD Grows Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Price T Rowe Associates Inc. has increased its stake in SiteOne Landscape Supply by 12.2%, bringing its total to over 6 million shares valued at approximately $738 million.
• Several large investors, including OneDigital Investment Advisors and Teacher Retirement System of Texas, have made significant increases in their positions in SiteOne Landscape Supply during the first quarter.
• SiteOne's CEO and EVP recently sold portions of their shares, with notable transactions occurring in early July, showcasing significant insider selling activity amidst a strong market performance.

Price T Rowe Associates Inc. MD raised its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,079,615 shares of the industrial products company's stock after buying an additional 660,081 shares during the period. Price T Rowe Associates Inc. MD owned approximately 13.57% of SiteOne Landscape Supply worth $738,309,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in SiteOne Landscape Supply by 31.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company's stock valued at $254,143,000 after acquiring an additional 494,737 shares during the last quarter. Bamco Inc. NY lifted its holdings in SiteOne Landscape Supply by 4.6% in the 4th quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock worth $217,786,000 after buying an additional 72,430 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock valued at $143,733,000 after acquiring an additional 16,120 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings 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 worth $83,989,000 after acquiring an additional 73,010 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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 worth $83,190,000 after acquiring an additional 27,409 shares during the last quarter.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 7,384 shares of the firm'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 value of $975,352.56. Following the sale, the chief executive officer owned 600,446 shares in the company, valued at $79,312,912.14. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were 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 in the company, 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. Over the last ninety days, insiders sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is owned by insiders.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE traded up $1.22 during mid-day trading on Wednesday, hitting $144.89. 124,478 shares of the stock were exchanged, compared to its average volume of 515,696. The company has a market cap of $6.46 billion, a P/E ratio of 52.75, a PEG ratio of 2.41 and a beta of 1.54. The stock's fifty day simple moving average is $131.04 and its two-hundred day simple moving average is $125.12. 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, Inc. has a twelve month low of $101.25 and a twelve month 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 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 business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 EPS. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SITE has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. 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 report on Thursday, July 31st. 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 equities research 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.