Vancity Investment Management Ltd Invests $791,000 in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Vancity Investment Management Ltd purchased 6,510 shares of SiteOne Landscape Supply, Inc. for approximately $791,000, indicating confidence in the company's future prospects.
• In the last ninety days, insiders, including CEO Doug Black and EVP Joseph Ketter, sold significant amounts of stock, with total insider sales amounting to $9,828,465.
• SiteOne Landscape Supply's stock has shown volatility, recently opening at $153.05, with a market cap of $6.83 billion and a P/E ratio of 55.86.

Vancity Investment Management Ltd acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,510 shares of the industrial products company's stock, valued at approximately $791,000.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in SiteOne Landscape Supply by 164.6% during the fourth quarter. BNP Paribas Financial Markets now owns 25,945 shares of the industrial products company's stock worth $3,419,000 after buying an additional 16,140 shares during the last quarter. Baird Financial Group Inc. boosted its stake in SiteOne Landscape Supply by 6.3% during the 4th quarter. Baird Financial Group Inc. now owns 3,113 shares of the industrial products company's stock worth $410,000 after acquiring an additional 184 shares during the last quarter. Captrust Financial Advisors grew its holdings in SiteOne Landscape Supply by 32.4% during the fourth quarter. Captrust Financial Advisors now owns 10,115 shares of the industrial products company's stock valued at $1,333,000 after purchasing an additional 2,475 shares during the period. D. E. Shaw & Co. Inc. increased its stake in SiteOne Landscape Supply by 67.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 32,589 shares of the industrial products company's stock valued at $4,294,000 after purchasing an additional 13,149 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in SiteOne Landscape Supply in the fourth quarter worth $233,000.

Insider Buying and Selling

In related news, CEO Doug Black sold 29,760 shares of the 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 completion of the transaction, the chief executive officer owned 596,684 shares in the company, valued at approximately $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the firm'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 directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,784 shares of company stock valued at $9,828,465. Insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Stock Up 0.5%

SITE traded up $0.66 during trading on Wednesday, hitting $143.17. The company had a trading volume of 554,644 shares, compared to its average volume of 508,639. The company has a market capitalization of $6.39 billion, a PE ratio of 52.25, a PEG ratio of 2.38 and a beta of 1.60. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74. The firm's 50-day moving average price is $136.40 and its 200 day moving average price is $125.65.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 EPS. As a group, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

SITE has been the subject of several research analyst reports. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report 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 report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, SiteOne Landscape Supply currently has an average rating of "Hold" and a consensus price target 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.