WCM Investment Management LLC Purchases 9,108 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• WCM Investment Management LLC increased its stake in SiteOne Landscape Supply by 6.9%, owning a total of 140,899 shares valued at approximately $16.98 million after purchasing 9,108 shares in the second quarter.
• SiteOne Landscape Supply reported $2.86 earnings per share for the last quarter, which was below analysts' expectations of $2.89, with a revenue of $1.46 billion, up 3.4% year-over-year.
• Analysts have mixed ratings for SiteOne, with a consensus rating of "Hold" and a target price of $148.50, indicating varying outlooks on the stock's performance.

WCM Investment Management LLC boosted its position in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 6.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,899 shares of the industrial products company's stock after purchasing an additional 9,108 shares during the quarter. WCM Investment Management LLC owned about 0.31% of SiteOne Landscape Supply worth $16,984,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SITE. Price T Rowe Associates Inc. MD boosted its stake in SiteOne Landscape Supply by 12.2% in the 1st 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. boosted its stake 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 purchasing an additional 494,737 shares during the period. Jackson Square Partners LLC boosted its stake in SiteOne Landscape Supply by 2,732.2% in the 1st quarter. Jackson Square Partners LLC now owns 176,755 shares of the industrial products company's stock valued at $21,465,000 after purchasing an additional 170,514 shares during the period. Invesco Ltd. boosted its stake in SiteOne Landscape Supply by 108.8% in the 1st quarter. Invesco Ltd. now owns 309,504 shares of the industrial products company's stock valued at $37,586,000 after purchasing an additional 161,263 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in SiteOne Landscape Supply by 21.3% in the 1st 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.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the transaction, the chief executive officer owned 600,446 shares in the company, valued at $79,312,912.14. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

SiteOne Landscape Supply Stock Performance

SiteOne Landscape Supply stock opened at $120.83 on Friday. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $160.74. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The business's 50-day moving average price is $135.61 and its two-hundred day moving average price is $126.36. The stock has a market cap of $5.39 billion, a PE ratio of 44.10, a P/E/G ratio of 2.08 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its earnings results 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 business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm earned $2.63 EPS. The business's revenue was up 3.4% on a year-over-year basis. As a group, analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

SITE has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their target price on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c-)" rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 8th. Zacks Research downgraded SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. William Blair reiterated a "market perform" rating on shares of SiteOne Landscape Supply in a research report on Wednesday. Finally, Loop Capital upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and upped their target price for the company from $150.00 to $160.00 in a research report on Friday, September 19th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $148.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.