WCM Investment Management LLC Lowers Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

WCM Investment Management LLC reduced its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,082 shares of the industrial products company’s stock after selling 5,292 shares during the period. WCM Investment Management LLC owned 0.27% of SiteOne Landscape Supply worth $15,479,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SITE. Dimensional Fund Advisors LP raised its stake in shares of SiteOne Landscape Supply by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 805,336 shares of the industrial products company’s stock valued at $107,191,000 after acquiring an additional 28,958 shares in the last quarter. Parallel Advisors LLC grew its stake in SiteOne Landscape Supply by 15.6% in the first quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 88 shares in the last quarter. SEB Asset Management AB bought a new position in SiteOne Landscape Supply in the first quarter worth approximately $11,663,000. California Public Employees Retirement System increased its holdings in SiteOne Landscape Supply by 8.1% during the 1st quarter. California Public Employees Retirement System now owns 85,921 shares of the industrial products company’s stock worth $11,437,000 after purchasing an additional 6,413 shares during the period. Finally, Bessemer Group Inc. increased its holdings in SiteOne Landscape Supply by 182.6% during the 1st quarter. Bessemer Group Inc. now owns 373 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 241 shares during the period.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE opened at $102.86 on Tuesday. The firm has a 50 day moving average of $109.69 and a 200 day moving average of $128.64. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.34. SiteOne Landscape Supply, Inc. has a 52 week low of $100.52 and a 52 week high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). The company had revenue of $940.10 million during the quarter, compared to analysts’ expectations of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.61) earnings per share. On average, sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 4.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of SiteOne Landscape Supply stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the transaction, the director owned 11,267 shares in the company, valued at $1,267,762.84. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Barclays dropped their price target on SiteOne Landscape Supply from $148.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 14th. Robert W. Baird set a $160.00 price target on SiteOne Landscape Supply in a research note on Thursday, April 30th. UBS Group restated a “neutral” rating on shares of SiteOne Landscape Supply in a report on Thursday, June 25th. Finally, Bank of America lowered their price objective on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $156.64.

About SiteOne Landscape Supply

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.