Sovereign s Capital Management LLC Takes $1.07 Million Position in SiteOne Landscape Supply, Inc. $SITE

Sovereign s Capital Management LLC purchased a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,600 shares of the industrial products company’s stock, valued at approximately $1,071,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Squarepoint Ops LLC raised its stake in shares of SiteOne Landscape Supply by 433.9% in the 4th quarter. Squarepoint Ops LLC now owns 20,054 shares of the industrial products company’s stock valued at $2,498,000 after acquiring an additional 16,298 shares during the period. Verition Fund Management LLC raised its stake in shares of SiteOne Landscape Supply by 60.0% in the 4th quarter. Verition Fund Management LLC now owns 42,084 shares of the industrial products company’s stock valued at $5,242,000 after acquiring an additional 15,785 shares during the period. PEAK6 LLC purchased a new stake in shares of SiteOne Landscape Supply in the 4th quarter valued at approximately $2,204,000. Mariner LLC raised its stake in shares of SiteOne Landscape Supply by 330.6% in the 4th quarter. Mariner LLC now owns 17,356 shares of the industrial products company’s stock valued at $2,167,000 after acquiring an additional 13,325 shares during the period. Finally, Focus Partners Wealth purchased a new stake in shares of SiteOne Landscape Supply in the 4th quarter valued at approximately $1,713,000.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $112.52, for a total value of $63,236.24. Following the sale, the director directly owned 11,267 shares of the company’s stock, valued at approximately $1,267,762.84. This represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company’s stock.

SiteOne Landscape Supply Price Performance

Shares of SITE opened at $107.66 on Wednesday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $100.52 and a fifty-two week high of $168.56. The firm’s 50 day moving average price is $121.88 and its 200 day moving average price is $132.07. The company has a market cap of $4.77 billion, a P/E ratio of 31.95, a PEG ratio of 1.40 and a beta of 1.35. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The firm had revenue of $940.10 million during the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned ($0.61) EPS. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 4.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

SITE has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Barclays cut their target price on shares of SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Stifel Nicolaus raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Thursday, April 30th. Finally, UBS Group started coverage on shares of SiteOne Landscape Supply in a research note on Friday, April 10th. They set a “neutral” rating and a $140.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $160.10.

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.