Charles Schwab Investment Management Inc. Raises Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Charles Schwab Investment Management Inc. increased its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 0.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 555,858 shares of the industrial products company’s stock after buying an additional 2,951 shares during the period. Charles Schwab Investment Management Inc. owned 1.24% of SiteOne Landscape Supply worth $67,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SITE. Bamco Inc. NY increased its stake in SiteOne Landscape Supply by 4.6% in the fourth quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company’s stock valued at $217,786,000 after acquiring an additional 72,430 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in SiteOne Landscape Supply by 6.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company’s stock valued at $210,570,000 after acquiring an additional 91,719 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in SiteOne Landscape Supply by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company’s stock valued at $143,733,000 after acquiring an additional 16,120 shares during the last quarter. Ameriprise Financial Inc. increased its stake in SiteOne Landscape Supply by 12.9% in the fourth quarter. Ameriprise Financial Inc. now owns 637,409 shares of the industrial products company’s stock valued at $83,989,000 after acquiring an additional 73,010 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in SiteOne Landscape Supply by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 631,328 shares of the industrial products company’s stock valued at $83,190,000 after acquiring an additional 27,409 shares during the last quarter.

SiteOne Landscape Supply Stock Down 3.3%

Shares of SITE stock opened at $141.42 on Friday. The stock has a market cap of $6.31 billion, a P/E ratio of 51.61, a PEG ratio of 2.44 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week 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 company’s fifty day simple moving average is $127.83 and its two-hundred day simple moving average is $125.08.

SiteOne Landscape Supply (NYSE:SITE) last announced its 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 business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.63 earnings per share. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Joseph Ketter sold 39,640 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Doug Black sold 29,760 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,784 shares of company stock worth $9,828,465. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SITE shares. Truist Financial reduced their price objective on SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus reduced their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Wall Street Zen raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Royal Bank Of Canada raised their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $147.00.

About SiteOne Landscape Supply

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.