Ieq Capital LLC Takes Position in SiteOne Landscape Supply, Inc. $SITE

Ieq Capital LLC purchased a new position in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,385 shares of the industrial products company’s stock, valued at approximately $1,989,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of SiteOne Landscape Supply during the second quarter worth approximately $221,355,000. Amundi purchased a new stake in shares of SiteOne Landscape Supply in the third quarter valued at approximately $59,763,000. AQR Capital Management LLC grew its stake in SiteOne Landscape Supply by 171.0% in the fourth quarter. AQR Capital Management LLC now owns 691,558 shares of the industrial products company’s stock worth $86,140,000 after purchasing an additional 436,376 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in SiteOne Landscape Supply in the fourth quarter worth approximately $49,824,000. Finally, Capital World Investors increased its holdings in SiteOne Landscape Supply by 37.9% during the 4th quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock worth $174,675,000 after purchasing an additional 385,666 shares during the period.

Insider Activity

In other news, CEO Doug Black bought 8,000 shares of SiteOne Landscape Supply stock in a transaction on Tuesday, August 4th. The stock was acquired at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the acquisition, the chief executive officer owned 8,000 shares of the company’s stock, valued at $816,240. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Fred M. Diaz sold 562 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $112.52, for a total transaction of $63,236.24. Following the sale, the director directly owned 11,267 shares of the company’s stock, valued at approximately $1,267,762.84. The trade was a 4.75% decrease in their ownership of the stock. 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. 2.10% of the stock is owned by insiders.

SiteOne Landscape Supply Stock Down 0.0%

Shares of NYSE 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 stock’s fifty day simple moving average is $103.48 and its two-hundred day simple moving average is $120.78. The stock has a market capitalization of $4.16 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.35. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing the consensus estimate 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 return on equity of 9.76% and a net margin of 3.41%.The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.86 earnings per share. As a group, analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

Analyst Ratings Changes

SITE has been the subject of several research reports. Royal Bank Of Canada lowered their target price on SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. UBS Group decreased their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Stifel Nicolaus reiterated a “hold” rating and set a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. Finally, Robert W. Baird cut their target price on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $135.27.

SiteOne Landscape Supply Company Profile

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.