Magnetar Financial LLC Makes New Investment in SiteOne Landscape Supply, Inc. $SITE

Magnetar Financial LLC acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,097 shares of the industrial products company’s stock, valued at approximately $4,003,000. Magnetar Financial LLC owned 0.07% of SiteOne Landscape Supply as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH increased its position in SiteOne Landscape Supply by 1.4% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 80,919 shares of the industrial products company’s stock valued at $9,786,000 after acquiring an additional 1,087 shares during the period. Summitry LLC grew its stake in shares of SiteOne Landscape Supply by 28.5% in the 2nd quarter. Summitry LLC now owns 2,206 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 489 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of SiteOne Landscape Supply by 37.8% in the second quarter. Rockefeller Capital Management L.P. now owns 79,564 shares of the industrial products company’s stock valued at $9,622,000 after purchasing an additional 21,810 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in shares of SiteOne Landscape Supply by 4.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 16,824 shares of the industrial products company’s stock worth $2,035,000 after purchasing an additional 683 shares during the last quarter. Finally, Pembroke Management LTD raised its stake in shares of SiteOne Landscape Supply by 30.2% during the second quarter. Pembroke Management LTD now owns 269,098 shares of the industrial products company’s stock worth $32,545,000 after purchasing an additional 62,434 shares during the last quarter.

SiteOne Landscape Supply Stock Up 4.6%

Shares of NYSE SITE opened at $130.84 on Friday. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.60. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The firm has a 50-day moving average price of $126.75 and a 200 day moving average price of $128.52. The company has a quick ratio of 1.14, a current ratio of 2.49 and a debt-to-equity ratio of 0.29.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. SiteOne Landscape Supply had a net margin of 2.98% and a return on equity of 8.62%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. Equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SITE shares. The Goldman Sachs Group dropped their price objective on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Barclays lifted their target price on shares of SiteOne Landscape Supply from $106.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Royal Bank Of Canada increased their price target on shares of SiteOne Landscape Supply from $143.00 to $151.00 and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $152.10.

SiteOne Landscape Supply Company 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.