Kinetic Partners Management LP Makes New $20.29 Million Investment in SiteOne Landscape Supply, Inc. $SITE

Kinetic Partners Management LP bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 157,500 shares of the industrial products company’s stock, valued at approximately $20,286,000. SiteOne Landscape Supply accounts for about 1.0% of Kinetic Partners Management LP’s portfolio, making the stock its 28th largest position. Kinetic Partners Management LP owned approximately 0.35% of SiteOne Landscape Supply as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. 59 North Capital Management LP acquired a new position in SiteOne Landscape Supply in the 3rd quarter valued at about $214,417,000. Cartenna Capital LP acquired a new stake in shares of SiteOne Landscape Supply in the third quarter valued at $63,756,000. Amundi purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth approximately $59,763,000. AQR Capital Management LLC lifted its holdings in shares of SiteOne Landscape Supply by 743.5% in the 2nd quarter. AQR Capital Management LLC now owns 441,192 shares of the industrial products company’s stock valued at $52,440,000 after purchasing an additional 388,890 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in SiteOne Landscape Supply by 791.0% in the third quarter. Balyasny Asset Management L.P. now owns 351,041 shares of the industrial products company’s stock valued at $45,214,000 after buying an additional 311,641 shares during the last quarter.

SiteOne Landscape Supply Stock Down 0.6%

Shares of NYSE SITE opened at $129.08 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.20 and a current ratio of 2.47. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $168.56. The stock’s 50-day simple moving average is $144.27 and its 200-day simple moving average is $134.87. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 1.68 and a beta of 1.59.

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

Insider Activity

In other news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the transaction, the executive vice president directly owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. The trade was a 37.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SITE shares. Robert W. Baird set a $190.00 target price on SiteOne Landscape Supply in a research note on Thursday, February 12th. Royal Bank Of Canada raised their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Bank of America initiated coverage on SiteOne Landscape Supply in a research report on Thursday, December 18th. They issued a “buy” rating and a $147.00 price objective on the stock. Stifel Nicolaus set a $144.00 price target on SiteOne Landscape Supply in a research note on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.