Atom Investors LP Acquires 118,924 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Atom Investors LP dramatically increased its stake in SiteOne Landscape Supply, boosting holdings by 1,732.3% in the fourth quarter to 125,789 shares, making the stock its third-largest position.
• Insider activity was modestly negative, as director Fred M. Diaz sold 562 shares in a pre-arranged Rule 10b5-1 transaction, leaving insiders with 2.10% ownership.
• Analyst sentiment is mixed but leans neutral: the consensus rating is “Hold,” with an average price target of $160.10, while recent updates included both upgrades and downgrades.

Atom Investors LP increased its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 1,732.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,789 shares of the industrial products company's stock after acquiring an additional 118,924 shares during the period. SiteOne Landscape Supply makes up approximately 1.2% of Atom Investors LP's portfolio, making the stock its 3rd biggest holding. Atom Investors LP owned 0.28% of SiteOne Landscape Supply worth $15,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SITE. 59 North Capital Management LP acquired a new position in SiteOne Landscape Supply during the third quarter worth $214,417,000. Cartenna Capital LP acquired a new position in SiteOne Landscape Supply during the third quarter worth $63,756,000. Amundi acquired a new position in SiteOne Landscape Supply during the third quarter worth $59,763,000. AQR Capital Management LLC grew its holdings in SiteOne Landscape Supply by 743.5% during the second quarter. AQR Capital Management LLC now owns 441,192 shares of the industrial products company's stock worth $52,440,000 after acquiring an additional 388,890 shares during the period. Finally, Capital World Investors grew its holdings in SiteOne Landscape Supply by 37.9% during the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company's stock worth $174,675,000 after acquiring an additional 385,666 shares during the period.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the completion of the sale, the director owned 11,267 shares of the company's stock, valued at $1,267,762.84. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays dropped their price objective on SiteOne Landscape Supply from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. Stifel Nicolaus raised SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $157.00 target price on the stock in a report on Monday, May 4th. UBS Group started coverage on SiteOne Landscape Supply in a report on Friday, April 10th. They issued a "neutral" rating and a $140.00 target price on the stock. Weiss Ratings lowered SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of "Hold" and an average target price of $160.10.

SiteOne Landscape Supply Stock Up 0.4%

Shares of SiteOne Landscape Supply stock opened at $107.66 on Wednesday. The business's fifty day moving average price is $121.88 and its two-hundred day moving average price is $132.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. The company has a market capitalization of $4.77 billion, a P/E ratio of 31.95, a PEG ratio of 1.40 and a beta of 1.35. SiteOne Landscape Supply, Inc. has a 1-year low of $100.52 and a 1-year high of $168.56.

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

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.

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