SiteOne Landscape Supply, Inc. $SITE Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC raised its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 41.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,669 shares of the industrial products company’s stock after purchasing an additional 13,572 shares during the quarter. Magnetar Financial LLC owned about 0.10% of SiteOne Landscape Supply worth $6,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bamco Inc. NY raised its holdings in shares of SiteOne Landscape Supply by 14.2% during the 2nd quarter. Bamco Inc. NY now owns 1,941,817 shares of the industrial products company’s stock valued at $234,843,000 after buying an additional 242,106 shares during the period. Capital World Investors grew its position in SiteOne Landscape Supply by 3.3% in the third quarter. Capital World Investors now owns 1,016,671 shares of the industrial products company’s stock valued at $130,947,000 after acquiring an additional 32,682 shares in the last quarter. State Street Corp raised its stake in shares of SiteOne Landscape Supply by 1.7% during the second quarter. State Street Corp now owns 777,354 shares of the industrial products company’s stock valued at $94,013,000 after purchasing an additional 12,766 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of SiteOne Landscape Supply by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 732,391 shares of the industrial products company’s stock valued at $94,327,000 after purchasing an additional 31,019 shares during the period. Finally, American Century Companies Inc. boosted its stake 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 purchasing an additional 107,465 shares during the period.

Analysts Set New Price Targets

SITE has been the subject of a number of analyst reports. Barclays increased their price target on SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Bank of America began coverage on SiteOne Landscape Supply in a research report on Thursday, December 18th. They issued a “buy” rating and a $147.00 target price on the stock. Robert W. Baird set a $190.00 target price on SiteOne Landscape Supply in a research note on Thursday, February 12th. Stifel Nicolaus set a $144.00 price target on shares of SiteOne Landscape Supply in a research report on Monday, February 9th. Finally, Truist Financial lifted their price target on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.44.

SiteOne Landscape Supply Stock Up 1.0%

Shares of SiteOne Landscape Supply stock opened at $135.42 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. The firm has a market cap of $6.02 billion, a P/E ratio of 40.30, a P/E/G ratio of 1.73 and a beta of 1.59. 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 price of $143.90 and a 200 day moving average price of $135.24.

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 (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($0.48) earnings per share. On average, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Eric J. Elema sold 1,765 shares of the company’s 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 sale, the executive vice president directly owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. This represents a 37.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.