WCM Investment Management LLC Buys 8,379 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

WCM Investment Management LLC increased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 33.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,429 shares of the industrial products company’s stock after purchasing an additional 8,379 shares during the quarter. WCM Investment Management LLC’s holdings in SiteOne Landscape Supply were worth $5,483,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SITE. NewEdge Wealth LLC boosted its stake in SiteOne Landscape Supply by 3.6% in the fourth quarter. NewEdge Wealth LLC now owns 17,931 shares of the industrial products company’s stock valued at $2,914,000 after acquiring an additional 622 shares during the last quarter. Sapient Capital LLC bought a new position in SiteOne Landscape Supply in the fourth quarter valued at approximately $549,000. Conestoga Capital Advisors LLC boosted its stake in SiteOne Landscape Supply by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,104,494 shares of the industrial products company’s stock valued at $179,480,000 after acquiring an additional 6,620 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in SiteOne Landscape Supply by 14.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 586,629 shares of the industrial products company’s stock valued at $95,327,000 after acquiring an additional 75,698 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in SiteOne Landscape Supply by 14,782.5% in the fourth quarter. International Assets Investment Management LLC now owns 90,188 shares of the industrial products company’s stock valued at $14,656,000 after acquiring an additional 89,582 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Royal Bank of Canada increased their target price on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. Truist Financial increased their target price on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Barclays increased their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a report on Thursday, February 15th. Finally, Loop Capital lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $172.88.

SiteOne Landscape Supply Trading Down 2.6 %

Shares of NYSE:SITE opened at $169.26 on Monday. SiteOne Landscape Supply, Inc. has a 12 month low of $116.81 and a 12 month high of $188.01. The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $170.35 and its 200 day simple moving average is $156.77. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 44.78 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $942.21 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that SiteOne Landscape Supply, Inc. will post 4.04 EPS for the current fiscal year.

Insider Activity

In other news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $153.29, for a total value of $1,532,900.00. Following the completion of the transaction, the chief executive officer now owns 580,886 shares of the company’s stock, valued at approximately $89,044,014.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO John T. Guthrie sold 3,000 shares of SiteOne Landscape Supply stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the sale, the chief financial officer now owns 15,467 shares of the company’s stock, valued at approximately $2,784,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $153.29, for a total transaction of $1,532,900.00. Following the sale, the chief executive officer now directly owns 580,886 shares of the company’s stock, valued at approximately $89,044,014.94. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock valued at $3,836,400 in the last quarter. Company insiders own 2.60% of the company’s stock.

SiteOne Landscape Supply Company 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.