Trexquant Investment LP Trims Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Trexquant Investment LP has significantly reduced its stake in SiteOne Landscape Supply, cutting its holdings by 88.1% and now owns 7,087 shares valued at approximately $861,000.
• SiteOne Landscape Supply reported a miss in earnings for the last quarter with an EPS of $2.86, falling short of analysts' expectations of $2.89, while revenue was up 3.4% year-over-year.
• Multiple hedge funds have increased their positions in SiteOne Landscape Supply, with notable increases including a 106.1% rise by Golden State Wealth Management LLC in Q1.

Trexquant Investment LP lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 88.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,087 shares of the industrial products company's stock after selling 52,271 shares during the quarter. Trexquant Investment LP's holdings in SiteOne Landscape Supply were worth $861,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of SiteOne Landscape Supply by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company's stock valued at $738,309,000 after purchasing an additional 660,081 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of SiteOne Landscape Supply by 31.0% in the first 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 purchasing an additional 494,737 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of 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 during the period. Ameriprise Financial Inc. grew its holdings in shares of SiteOne Landscape Supply by 21.3% in the first quarter. Ameriprise Financial Inc. now owns 773,358 shares of the industrial products company's stock valued at $93,913,000 after purchasing an additional 135,949 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in SiteOne Landscape Supply by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 555,858 shares of the industrial products company's stock worth $67,503,000 after buying an additional 2,951 shares during the period.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CEO Doug Black sold 29,760 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the sale, the chief executive officer directly owned 596,684 shares in the company, valued at approximately $77,139,307.52. The trade was a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the business'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 sale, the executive vice president owned 13,663 shares in the company, valued at $1,725,363.64. The trade was 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 over the last ninety days. Corporate insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Stock Down 0.0%

Shares of NYSE SITE traded down $0.07 during midday trading on Thursday, hitting $143.17. The company's stock had a trading volume of 476,135 shares, compared to its average volume of 519,207. The business's fifty day simple moving average is $136.40 and its two-hundred day simple moving average is $125.65. 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, Inc. has a 1 year low of $101.25 and a 1 year high of $160.74. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 52.25, a price-to-earnings-growth ratio of 2.38 and a beta of 1.60.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued 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 company 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 firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.63 EPS. On average, equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SITE. Royal Bank Of Canada upped 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 report on Thursday, July 31st. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply has a consensus rating of "Hold" and an average target price of $147.00.

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.