Cartenna Capital LP Takes $63.76 Million Position in SiteOne Landscape Supply, Inc. $SITE

Cartenna Capital LP acquired a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 495,000 shares of the industrial products company’s stock, valued at approximately $63,756,000. SiteOne Landscape Supply accounts for approximately 1.8% of Cartenna Capital LP’s holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also bought and sold shares of the company. Bamco Inc. NY lifted its holdings in SiteOne Landscape Supply by 1.3% in the third quarter. Bamco Inc. NY now owns 1,966,876 shares of the industrial products company’s stock valued at $253,334,000 after buying an additional 25,059 shares during the period. 59 North Capital Management LP acquired a new stake in SiteOne Landscape Supply during the 3rd quarter worth about $214,417,000. Capital World Investors raised its position in shares of SiteOne Landscape Supply by 3.3% in the 3rd quarter. Capital World Investors now owns 1,016,671 shares of the industrial products company’s stock worth $130,947,000 after acquiring an additional 32,682 shares in the last quarter. State Street Corp raised its position in shares of SiteOne Landscape Supply by 1.7% in the 2nd quarter. State Street Corp now owns 777,354 shares of the industrial products company’s stock worth $94,013,000 after acquiring an additional 12,766 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of SiteOne Landscape Supply by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 732,391 shares of the industrial products company’s stock valued at $94,327,000 after purchasing an additional 31,019 shares during the period.

Insider Buying and Selling

In other news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the sale, the executive vice president directly owned 2,911 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

SITE has been the topic of several research analyst reports. Bank of America started coverage on SiteOne Landscape Supply in a research report on Thursday, December 18th. They set a “buy” rating and a $147.00 target price on the stock. Stifel Nicolaus set a $144.00 target price on SiteOne Landscape Supply in a report on Monday, February 9th. Zacks Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Barclays raised their price objective on shares of SiteOne Landscape Supply from $134.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, SiteOne Landscape Supply has an average rating of “Hold” and an average target price of $159.44.

SiteOne Landscape Supply Stock Down 0.2%

Shares of NYSE SITE opened at $130.06 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20. The company has a 50-day moving average price of $144.33 and a 200-day moving average price of $135.05. The stock has a market capitalization 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 1 year low of $101.25 and a 1 year high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted ($0.48) EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

SiteOne Landscape Supply Company 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.