Advantage Alpha Capital Partners LP Has $4.89 Million Stake in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Advantage Alpha Capital Partners LP reduced its stake in SiteOne Landscape Supply by 22.7%, selling 11,797 shares and now holding approximately 40,255 shares valued at $4.9 million as of Q1.
• CEO Doug Black and EVP Joseph Ketter both sold shares recently, with Ketter's sale representing a significant 74.37% decrease in their ownership.
• Several hedge funds increased their holdings in SiteOne Landscape Supply, including T. Rowe Price Investment Management, which raised its stake by 31%.

Advantage Alpha Capital Partners LP lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,255 shares of the industrial products company's stock after selling 11,797 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.09% of SiteOne Landscape Supply worth $4,889,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SITE. Ameriprise Financial Inc. boosted its holdings in shares of SiteOne Landscape Supply by 21.3% during the first quarter. Ameriprise Financial Inc. now owns 773,358 shares of the industrial products company's stock valued at $93,913,000 after acquiring an additional 135,949 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in SiteOne Landscape Supply by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company's stock worth $738,309,000 after purchasing an additional 660,081 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in SiteOne Landscape Supply by 31.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company's stock worth $254,143,000 after purchasing an additional 494,737 shares during the period. Capital Fund Management S.A. acquired a new stake in SiteOne Landscape Supply in the first quarter worth about $1,428,000. Finally, Hsbc Holdings PLC lifted its holdings in SiteOne Landscape Supply by 22.7% in the first quarter. Hsbc Holdings PLC now owns 5,676 shares of the industrial products company's stock worth $687,000 after purchasing an additional 1,050 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus reduced their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a report on Monday, April 28th. Royal Bank Of Canada boosted their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $147.00.

SiteOne Landscape Supply Trading Down 0.3%

NYSE SITE traded down $0.48 on Tuesday, hitting $143.90. 346,606 shares of the company were exchanged, compared to its average volume of 518,145. The company's 50 day moving average price is $130.49 and its 200-day moving average price is $124.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06. The firm has a market capitalization of $6.42 billion, a P/E ratio of 52.52, a price-to-earnings-growth ratio of 2.46 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.SiteOne Landscape Supply's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.63 EPS. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the sale, the executive vice president owned 13,663 shares in the company, valued at approximately $1,725,363.64. The trade was a 74.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Doug Black sold 7,384 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the transaction, the chief executive officer owned 600,446 shares in the company, valued at $79,312,912.14. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,784 shares of company stock worth $9,828,465. Corporate insiders own 2.60% of the company's stock.

About SiteOne Landscape Supply

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.