AQR Capital Management LLC Lowers Stock Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• AQR Capital Management LLC reduced its stake in SiteOne Landscape Supply by 44.8%, now holding 52,302 shares valued at approximately $6.23 million.
• SiteOne Landscape Supply reported earnings of $2.86 per share for the last quarter, missing analysts' expectations of $2.89.
• Currently, SiteOne Landscape Supply has a market cap of $6.23 billion and a consensus target price of $147.00, with ratings indicating an average 'hold' for the stock.

AQR Capital Management LLC cut its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 44.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,302 shares of the industrial products company's stock after selling 42,387 shares during the period. AQR Capital Management LLC owned 0.12% of SiteOne Landscape Supply worth $6,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SITE. Baird Financial Group Inc. grew its position in shares of SiteOne Landscape Supply by 6.3% during the fourth quarter. Baird Financial Group Inc. now owns 3,113 shares of the industrial products company's stock worth $410,000 after acquiring an additional 184 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of SiteOne Landscape Supply by 67.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 32,589 shares of the industrial products company's stock worth $4,294,000 after purchasing an additional 13,149 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of SiteOne Landscape Supply during the fourth quarter worth $233,000. Janus Henderson Group PLC lifted its holdings in shares of SiteOne Landscape Supply by 4.8% during the fourth quarter. Janus Henderson Group PLC now owns 52,163 shares of the industrial products company's stock worth $6,868,000 after purchasing an additional 2,379 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of SiteOne Landscape Supply by 461.6% during the fourth quarter. Millennium Management LLC now owns 51,492 shares of the industrial products company's stock worth $6,785,000 after purchasing an additional 42,323 shares during the period.

SiteOne Landscape Supply Trading Down 1.6%

Shares of SITE stock opened at $139.66 on Friday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The stock has a market cap of $6.23 billion, a P/E ratio of 50.97, a P/E/G ratio of 2.37 and a beta of 1.60. The business has a fifty day simple moving average of $136.84 and a 200-day simple moving average of $125.77. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

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 EPS for the quarter, missing analysts' consensus estimates of $2.89 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.63 EPS. On average, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total value of $5,005,739.20. Following the sale, the executive vice president directly owned 13,663 shares of the company's stock, valued at approximately $1,725,363.64. This trade represents a 74.37% decrease in their position. The sale 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 firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the sale, the chief executive officer directly owned 600,446 shares in the company, valued at approximately $79,312,912.14. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SITE shares. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada increased their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $147.00.

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.

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