Kinetic Partners Management LP Takes Position in SiteOne Landscape Supply, Inc. $SITE

Kinetic Partners Management LP purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the third quarter, Holdings Channel.com reports. The fund purchased 157,500 shares of the industrial products company’s stock, valued at approximately $20,286,000. SiteOne Landscape Supply accounts for 1.0% of Kinetic Partners Management LP’s holdings, making the stock its 28th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its stake in SiteOne Landscape Supply by 45.9% during the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock worth $9,126,000 after buying an additional 23,657 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of SiteOne Landscape Supply by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock valued at $25,907,000 after acquiring an additional 11,574 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of SiteOne Landscape Supply by 10.6% during the 1st 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 acquiring an additional 16,378 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of SiteOne Landscape Supply in the 1st quarter worth $6,797,000.

Insider Buying and Selling

In other SiteOne Landscape Supply 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 transaction of $278,887.65. Following the transaction, the executive vice president owned 2,911 shares in the company, valued at $459,967.11. This trade 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 at the SEC website. 2.60% of the stock is currently owned by company insiders.

SiteOne Landscape Supply Price Performance

Shares of NYSE:SITE opened at $129.08 on Tuesday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $168.56. The business has a 50-day moving average of $144.27 and a two-hundred day moving average of $134.87. The stock has a market capitalization of $5.74 billion, a P/E ratio of 38.42, a P/E/G ratio of 1.68 and a beta of 1.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The business 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 firm posted ($0.48) EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Truist Financial boosted their target price on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Zacks Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Stifel Nicolaus set a $144.00 target price on SiteOne Landscape Supply in a research note on Monday, February 9th. Finally, Royal Bank Of Canada increased their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.