SiteOne Landscape Supply, Inc. $SITE Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 12.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 357,893 shares of the industrial products company’s stock after selling 52,656 shares during the period. Fred Alger Management LLC owned about 0.80% of SiteOne Landscape Supply worth $46,097,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SITE. Bamco Inc. NY raised its position in shares of SiteOne Landscape Supply by 1.3% in the 3rd quarter. Bamco Inc. NY now owns 1,966,876 shares of the industrial products company’s stock valued at $253,334,000 after purchasing an additional 25,059 shares in the last quarter. 59 North Capital Management LP purchased a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at approximately $214,417,000. Capital World Investors grew its position in shares of SiteOne Landscape Supply by 3.3% during the third quarter. Capital World Investors now owns 1,016,671 shares of the industrial products company’s stock worth $130,947,000 after buying an additional 32,682 shares in the last quarter. State Street Corp grew its position in shares of SiteOne Landscape Supply by 1.7% during the second quarter. State Street Corp now owns 777,354 shares of the industrial products company’s stock worth $94,013,000 after buying an additional 12,766 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of SiteOne Landscape Supply by 4.4% in the third quarter. Dimensional Fund Advisors LP now owns 732,391 shares of the industrial products company’s stock worth $94,327,000 after buying an additional 31,019 shares during the last quarter.

SiteOne Landscape Supply Stock Performance

SITE stock opened at $130.06 on Monday. The company has a current ratio of 2.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.29. The firm has a market cap of $5.78 billion, a P/E ratio of 38.71, a P/E/G ratio of 1.68 and a beta of 1.59. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $168.56. The stock’s 50 day simple moving average is $144.33 and its 200 day simple moving average is $134.98.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.09. SiteOne Landscape Supply had a net margin of 3.23% and a return on equity of 9.28%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted ($0.48) earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the sale, the executive vice president directly owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. This represents a 37.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SITE has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Robert W. Baird set a $190.00 price objective on shares of SiteOne Landscape Supply in a report on Thursday, February 12th. Bank of America assumed coverage on shares of SiteOne Landscape Supply in a research report on Thursday, December 18th. They issued a “buy” rating and a $147.00 target price for the company. Royal Bank Of Canada upped their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus target price of $159.44.

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.