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

Cartenna Capital LP bought a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 495,000 shares of the industrial products company’s stock, valued at approximately $63,756,000. SiteOne Landscape Supply comprises approximately 1.8% of Cartenna Capital LP’s holdings, making the stock its 19th biggest holding. Cartenna Capital LP owned about 1.11% of SiteOne Landscape Supply as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SITE. Advantage Alpha Capital Partners LP grew its position in shares of SiteOne Landscape Supply by 6.2% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 42,756 shares of the industrial products company’s stock worth $5,171,000 after purchasing an additional 2,501 shares in the last quarter. American Century Companies Inc. raised its position in shares of SiteOne Landscape Supply by 20.6% in the second quarter. American Century Companies Inc. now owns 629,029 shares of the industrial products company’s stock valued at $76,075,000 after buying an additional 107,465 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SiteOne Landscape Supply in the third quarter valued at approximately $1,932,000. Rockefeller Capital Management L.P. boosted its stake 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 buying an additional 21,810 shares during the period. Finally, Cynosure Group LLC bought a new stake in shares of SiteOne Landscape Supply in the second quarter valued at approximately $1,130,000.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $130.06 on Friday. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 38.71, a P/E/G ratio of 1.68 and a beta of 1.59. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $168.56. The company’s fifty day moving average is $144.33 and its 200 day moving average is $135.05. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.29.

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

Insider Activity at SiteOne Landscape Supply

In related news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply 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 transaction, the executive vice president directly owned 2,911 shares of the company’s stock, valued at $459,967.11. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on SITE. Robert W. Baird set a $190.00 price objective on SiteOne Landscape Supply in a research note on Thursday, February 12th. Barclays upped their target price on SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Zacks Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, January 21st. Finally, Truist Financial boosted their price target on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $159.44.

About SiteOne Landscape Supply

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.