Legato Capital Management LLC Acquires 4,569 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Legato Capital Management LLC increased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 66.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,402 shares of the industrial products company's stock after acquiring an additional 4,569 shares during the quarter. Legato Capital Management LLC's holdings in SiteOne Landscape Supply were worth $1,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SITE. HighPoint Advisor Group LLC lifted its position in SiteOne Landscape Supply by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,037 shares of the industrial products company's stock valued at $271,000 after purchasing an additional 78 shares during the last quarter. State of Wyoming lifted its position in SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock valued at $183,000 after purchasing an additional 81 shares during the last quarter. GAMMA Investing LLC lifted its position in SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after purchasing an additional 95 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in SiteOne Landscape Supply by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 19,611 shares of the industrial products company's stock valued at $2,584,000 after purchasing an additional 130 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 139 shares during the last quarter.

SiteOne Landscape Supply Trading Up 1.0%

SITE stock traded up $1.33 during trading on Friday, hitting $132.58. The company had a trading volume of 659,961 shares, compared to its average volume of 539,034. The firm has a market capitalization of $5.94 billion, a P/E ratio of 52.82, a PEG ratio of 2.15 and a beta of 1.55. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $160.74. The company has a 50 day simple moving average of $122.73 and a 200-day simple moving average of $125.36. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.11). The company had revenue of $939.40 million during the quarter, compared to analysts' expectations of $933.90 million. SiteOne Landscape Supply had a return on equity of 7.31% and a net margin of 2.53%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.43) EPS. As a group, research analysts forecast 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, CEO Doug Black sold 29,760 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the transaction, the chief executive officer directly owned 596,684 shares in the company, valued at $77,139,307.52. This represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SITE shares. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus reduced their target price on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a "hold" rating and a $135.00 target price on the stock. Truist Financial reduced their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada reduced their target price on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock 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 issued a buy rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of "Hold" and an average price target of $145.70.

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.