WCM Investment Management LLC Grows Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

WCM Investment Management LLC lifted its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 33.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,429 shares of the industrial products company's stock after purchasing an additional 8,379 shares during the period. WCM Investment Management LLC owned about 0.07% of SiteOne Landscape Supply worth $5,483,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC bought a new stake in SiteOne Landscape Supply in the 3rd quarter valued at about $26,000. Operose Advisors LLC bought a new stake in shares of SiteOne Landscape Supply during the third quarter valued at about $28,000. Eagle Bay Advisors LLC bought a new stake in shares of SiteOne Landscape Supply during the second quarter valued at about $29,000. Impact Partnership Wealth LLC bought a new stake in shares of SiteOne Landscape Supply during the third quarter valued at about $30,000. Finally, Bessemer Group Inc. increased its position in shares of SiteOne Landscape Supply by 383.3% during the fourth quarter. Bessemer Group Inc. now owns 261 shares of the industrial products company's stock valued at $30,000 after buying an additional 207 shares during the period.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE traded down $2.86 during trading on Monday, hitting $166.40. The company had a trading volume of 187,995 shares, compared to its average volume of 305,293. The stock has a 50 day simple moving average of $170.35 and a 200 day simple moving average of $156.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.43. SiteOne Landscape Supply, Inc. has a 12 month low of $116.81 and a 12 month high of $188.01. The firm has a market capitalization of $7.52 billion, a P/E ratio of 44.02 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.07. The business had revenue of $965.00 million for the quarter, compared to the consensus estimate of $942.21 million. SiteOne Landscape Supply had a return on equity of 12.13% and a net margin of 4.03%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SITE. Truist Financial upped their price target on SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a "buy" rating in a research report on Thursday, February 15th. Royal Bank of Canada boosted their price objective on SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a "sector perform" rating in a report on Thursday, February 15th. Robert W. Baird upped their target price on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Thursday, February 15th. Barclays boosted their price objective on SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an "underweight" rating in a research report on Thursday, February 15th. Finally, Loop Capital downgraded SiteOne Landscape Supply from a "buy" rating to a "hold" rating in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $172.88.

Insider Activity at SiteOne Landscape Supply

In related news, CFO John T. Guthrie sold 3,000 shares of the business's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the transaction, the chief financial officer now owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO John T. Guthrie sold 3,000 shares of the business's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,467 shares of the company's stock, valued at approximately $2,784,060. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Doug Black sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total value of $1,763,500.00. Following the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at $101,340,761.95. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock worth $3,836,400 in the last quarter. 2.70% of the stock is owned by company insiders.

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.