Summit Creek Advisors LLC Acquires Shares of 41,949 SiteOne Landscape Supply, Inc. $SITE

Key Points

• Summit Creek Advisors acquired 41,949 SiteOne Landscape Supply shares worth approximately $4.8 million, while other major institutions—including BlackRock, Amundi and Capital World Investors—also increased or initiated positions.
• SiteOne’s CEO purchased 8,000 shares at an average price of $102.03, while a director sold 563 shares under a pre-arranged Rule 10b5-1 plan. Insiders own 2.10% of the company.
• The stock opened at $95.23 and has declined substantially from its 12-month high of $168.56. SiteOne recently missed quarterly EPS estimates, and analysts’ consensus rating is Hold with an average price target of $135.27.

Summit Creek Advisors LLC acquired a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 41,949 shares of the industrial products company's stock, valued at approximately $4,799,000. Summit Creek Advisors LLC owned approximately 0.10% of SiteOne Landscape Supply at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SITE. BlackRock Inc. bought a new position in shares of SiteOne Landscape Supply during the second quarter worth about $221,355,000. Amundi bought a new position in SiteOne Landscape Supply during the 3rd quarter worth approximately $59,763,000. AQR Capital Management LLC grew its position in shares of SiteOne Landscape Supply by 171.0% in the 4th quarter. AQR Capital Management LLC now owns 691,558 shares of the industrial products company's stock worth $86,140,000 after acquiring an additional 436,376 shares in the last quarter. Southpoint Capital Advisors LP bought a new stake in shares of SiteOne Landscape Supply in the 4th quarter valued at approximately $49,824,000. Finally, Capital World Investors increased its holdings in shares of SiteOne Landscape Supply by 37.9% in the 4th quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company's stock valued at $174,675,000 after acquiring an additional 385,666 shares during the last quarter.

Insider Transactions at SiteOne Landscape Supply

In other news, CEO Doug Black purchased 8,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the purchase, the chief executive officer owned 8,000 shares of the company's stock, valued at $816,240. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fred M. Diaz sold 563 shares of SiteOne Landscape Supply stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total value of $64,818.19. Following the sale, the director directly owned 11,829 shares in the company, valued at approximately $1,361,872.77. This trade represents a 4.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company's stock.

SiteOne Landscape Supply Price Performance

Shares of SITE opened at $95.23 on Wednesday. SiteOne Landscape Supply, Inc. has a 12 month low of $90.07 and a 12 month high of $168.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The stock has a fifty day moving average price of $104.50 and a 200 day moving average price of $122.52. The company has a market cap of $4.16 billion, a P/E ratio of 26.09, a PEG ratio of 1.43 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.22). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.86 earnings per share. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SITE has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Truist Financial dropped their target price on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. UBS Group reduced their price target on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Zacks Research lowered shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a report on Monday, June 22nd. Finally, Royal Bank Of Canada decreased their price target on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $135.27.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

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