Cwm LLC Acquires 13,971 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Cwm LLC increased its stake in SiteOne by 197.7% in Q4, buying an additional 13,971 shares and now owns 21,038 shares worth about $2.62 million.
• Other institutions also built positions—59 North Capital initiated a roughly $214.4 million stake, Interval Partners added $12.72 million, and Magnetar Financial raised its holdings by 41%—signaling broad institutional buying interest.
• SiteOne reported Q results of EPS -$0.20 (beat est. -$0.29) on $1.05B revenue (up 3.2% YoY); the stock trades near $144.46 with a market cap of $6.4B and a consensus analyst rating of Hold (average target $162.22).

Cwm LLC increased its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 197.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,038 shares of the industrial products company's stock after purchasing an additional 13,971 shares during the quarter. Cwm LLC's holdings in SiteOne Landscape Supply were worth $2,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of SiteOne Landscape Supply during the third quarter valued at $1,932,000. Magnetar Financial LLC lifted its holdings in shares of SiteOne Landscape Supply by 41.0% during the third quarter. Magnetar Financial LLC now owns 46,669 shares of the industrial products company's stock valued at $6,011,000 after purchasing an additional 13,572 shares in the last quarter. Interval Partners LP bought a new position in shares of SiteOne Landscape Supply during the third quarter valued at $12,720,000. 59 North Capital Management LP bought a new position in shares of SiteOne Landscape Supply during the third quarter valued at $214,417,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of SiteOne Landscape Supply by 19.9% during the third quarter. New York State Common Retirement Fund now owns 104,493 shares of the industrial products company's stock valued at $13,459,000 after purchasing an additional 17,362 shares in the last quarter.

SiteOne Landscape Supply Stock Up 0.7%

SITE stock opened at $144.46 on Friday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $108.11 and a fifty-two week high of $168.56. The business's 50-day moving average is $138.06 and its two-hundred day moving average is $134.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.20 and a current ratio of 2.47. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 42.99, a P/E/G ratio of 1.78 and a beta of 1.57.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.09. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate 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 was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.48) earnings per share. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research raised SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a report on Friday, February 13th. Robert W. Baird set a $190.00 target price on SiteOne Landscape Supply in a report on Thursday, February 12th. Stifel Nicolaus set a $144.00 target price on SiteOne Landscape Supply in a report on Monday, February 9th. Truist Financial increased their target price on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Hold" and an average target price of $162.22.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the company's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the sale, the executive vice president owned 2,911 shares in the company, valued at $459,967.11. This represents a 37.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

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.

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