SiteOne Landscape Supply, Inc. $SITE Stake Cut by Fred Alger Management LLC

Fred Alger Management LLC cut its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 29.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,268 shares of the industrial products company’s stock after selling 105,625 shares during the quarter. Fred Alger Management LLC owned 0.57% of SiteOne Landscape Supply worth $31,423,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SITE. Millennium Management LLC lifted its stake in SiteOne Landscape Supply by 45.9% during the first quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock worth $9,126,000 after purchasing an additional 23,657 shares during the last quarter. NewEdge Advisors LLC lifted its stake in SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in SiteOne Landscape Supply by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock worth $25,907,000 after purchasing an additional 11,574 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in SiteOne Landscape Supply by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock worth $20,679,000 after purchasing an additional 16,378 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in SiteOne Landscape Supply in the first quarter valued at $6,797,000.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 562 shares of SiteOne Landscape Supply 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 in the company, valued at $1,267,762.84. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 corporate insiders.

SiteOne Landscape Supply Stock Performance

SITE stock opened at $107.66 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 1.40 and a beta of 1.35. SiteOne Landscape Supply, Inc. has a 1 year low of $100.52 and a 1 year high of $168.56. The stock’s fifty day moving average is $121.88 and its two-hundred day moving average is $132.07.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company had revenue of $940.10 million for the quarter, compared to the consensus estimate of $982.27 million. During the same quarter in the prior year, the firm earned ($0.61) earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts predict that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SITE shares. Robert W. Baird set a $160.00 target price on SiteOne Landscape Supply in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Thursday, April 30th. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a research note on Monday, May 4th. Bank of America cut their target price on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, Weiss Ratings cut SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $160.10.

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.