GAMMA Investing LLC Purchases 58,629 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

GAMMA Investing LLC increased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 14,994.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,020 shares of the industrial products company's stock after acquiring an additional 58,629 shares during the quarter. GAMMA Investing LLC owned approximately 0.13% of SiteOne Landscape Supply worth $7,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SITE. Raymond James Financial Inc. bought a new position in SiteOne Landscape Supply during the 4th quarter worth approximately $40,676,000. Artisan Partners Limited Partnership grew its position in shares of SiteOne Landscape Supply by 137.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 368,142 shares of the industrial products company's stock worth $48,510,000 after buying an additional 212,907 shares during the last quarter. BLI Banque de Luxembourg Investments bought a new stake in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $22,787,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of SiteOne Landscape Supply by 320.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 226,300 shares of the industrial products company's stock worth $29,713,000 after buying an additional 172,500 shares during the last quarter. Finally, Wasatch Advisors LP grew its position in shares of SiteOne Landscape Supply by 9.7% in the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock worth $228,107,000 after buying an additional 153,447 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They issued a "hold" rating and a $135.00 price objective on the stock. Stifel Nicolaus cut their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Loop Capital cut their price objective on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Truist Financial lowered their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Royal Bank of Canada lowered their target price on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $145.70.

SiteOne Landscape Supply Stock Down 1.7%

NYSE:SITE traded down $2.17 during trading hours on Wednesday, reaching $123.69. 606,603 shares of the company traded hands, compared to its average volume of 428,474. The business's 50-day moving average price is $117.34 and its two-hundred day moving average price is $129.06. The stock has a market capitalization of $5.54 billion, a P/E ratio of 45.98 and a beta of 1.56. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $160.75. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.11). The company had revenue of $939.40 million for the quarter, compared to analysts' expectations of $933.90 million. SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) EPS. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

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.