SiteOne Landscape Supply, Inc. $SITE Position Increased by Price T Rowe Associates Inc. MD

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% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,079,615 shares of the industrial products company's stock after purchasing an additional 660,081 shares during the period. Price T Rowe Associates Inc. MD owned about 13.57% of SiteOne Landscape Supply worth $738,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Wyoming lifted its stake in SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock worth $183,000 after purchasing an additional 81 shares during the last quarter. GAMMA Investing LLC raised its holdings in SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after purchasing an additional 95 shares in the last quarter. Deutsche Bank AG raised its holdings in SiteOne Landscape Supply by 3.9% during the first 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 in the last quarter. Golden State Wealth Management LLC lifted its position in shares of 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 buying an additional 139 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in shares of SiteOne Landscape Supply by 1.4% in the 1st quarter. DAVENPORT & Co LLC now owns 11,121 shares of the industrial products company's stock valued at $1,351,000 after buying an additional 153 shares in the last quarter.

SiteOne Landscape Supply Stock Down 0.3%

SiteOne Landscape Supply stock traded down $0.48 during midday trading on Tuesday, hitting $143.90. 342,687 shares of the company were exchanged, compared to its average volume of 517,101. The company has a market cap of $6.42 billion, a PE ratio of 52.52, a price-to-earnings-growth ratio of 2.46 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The company's fifty day moving average price is $130.49 and its 200-day moving average price is $124.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06.

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

Insiders Place Their Bets

In related news, CEO Doug Black sold 29,760 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $129.28, for a total value of $3,847,372.80. Following the sale, the chief executive officer directly owned 596,684 shares of the company's stock, valued at $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president directly owned 13,663 shares of the company's stock, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,784 shares of company stock worth $9,828,465 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SITE has been the topic of several research analyst reports. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada lifted their target price on 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. Stifel Nicolaus decreased their target price on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Finally, Truist Financial dropped their price target on 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. Four analysts have rated the stock with a Buy rating, five have issued 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 a consensus target price of $147.00.

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.