SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 9.4% during the third quarter, HoldingsChannel reports. The fund owned 392,307 shares of the industrial products company’s stock after selling 40,637 shares during the period. Fred Alger Management LLC’s holdings in SiteOne Landscape Supply were worth $59,203,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SITE. Whittier Trust Co. of Nevada Inc. purchased a new stake in SiteOne Landscape Supply in the second quarter valued at approximately $27,000. Blue Trust Inc. raised its position in SiteOne Landscape Supply by 287.7% in the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 187 shares during the period. American National Bank & Trust purchased a new stake in SiteOne Landscape Supply in the third quarter valued at approximately $49,000. Quarry LP purchased a new stake in SiteOne Landscape Supply in the second quarter valued at approximately $61,000. Finally, National Bank of Canada FI raised its position in SiteOne Landscape Supply by 67.5% in the second quarter. National Bank of Canada FI now owns 536 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 216 shares during the period.

Analyst Ratings Changes

A number of brokerages have issued reports on SITE. Barclays boosted their target price on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group began coverage on SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price objective on the stock. StockNews.com raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Truist Financial upped their price objective on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $147.80.

Insider Buying and Selling

In other news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. The trade was a 33.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

SiteOne Landscape Supply Stock Performance

SiteOne Landscape Supply stock opened at $152.92 on Friday. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month high of $188.01. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 49.49 and a beta of 1.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The firm’s fifty day moving average price is $146.30 and its 200 day moving average price is $140.53.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 EPS for the current fiscal year.

SiteOne Landscape Supply 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.