59 North Capital Management LP Sells 208,619 Shares of SiteOne Landscape Supply, Inc. $SITE

59 North Capital Management LP trimmed its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,456,112 shares of the industrial products company’s stock after selling 208,619 shares during the period. SiteOne Landscape Supply comprises 5.6% of 59 North Capital Management LP’s portfolio, making the stock its 11th largest position. 59 North Capital Management LP’s holdings in SiteOne Landscape Supply were worth $181,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in SiteOne Landscape Supply by 541.9% in the fourth quarter. True Wealth Design LLC now owns 199 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares during the period. Rothschild Investment LLC boosted its stake in SiteOne Landscape Supply by 1,521.4% in the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 213 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of SiteOne Landscape Supply by 106.8% during the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after buying an additional 158 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of SiteOne Landscape Supply during the fourth quarter valued at approximately $42,000. Finally, NewEdge Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after buying an additional 107 shares during the last quarter.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total value of $64,818.19. Following the completion of the transaction, the director directly owned 11,829 shares of the company’s stock, valued at $1,361,872.77. This trade represents a 4.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SITE shares. Barclays cut their price target on shares of SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. UBS Group started coverage on shares of SiteOne Landscape Supply in a report on Friday, April 10th. They set a “neutral” rating and a $140.00 price target on the stock. Robert W. Baird set a $160.00 price target on shares of SiteOne Landscape Supply in a report on Thursday, April 30th. Stifel Nicolaus upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $160.10.

SiteOne Landscape Supply Stock Performance

SITE opened at $105.49 on Thursday. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 1.40 and a beta of 1.35. The company has a fifty day moving average of $121.39 and a 200 day moving average of $131.86. SiteOne Landscape Supply, Inc. has a fifty-two week low of $100.52 and a fifty-two week high of $168.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The company had revenue of $940.10 million for 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 business’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.61) earnings per share. As a group, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 4.18 earnings per share for the current fiscal year.

SiteOne Landscape Supply 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.