Millennium Management LLC Boosts Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Millennium Management LLC boosted its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 461.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,492 shares of the industrial products company's stock after acquiring an additional 42,323 shares during the quarter. Millennium Management LLC owned about 0.11% of SiteOne Landscape Supply worth $6,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SITE. Tortoise Investment Management LLC raised its stake in shares of SiteOne Landscape Supply by 78.9% during the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock worth $39,000 after buying an additional 131 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in SiteOne Landscape Supply during the fourth quarter worth $40,000. Brown Brothers Harriman & Co. increased its position in SiteOne Landscape Supply by 395.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock worth $45,000 after buying an additional 273 shares in the last quarter. Jones Financial Companies Lllp increased its position in SiteOne Landscape Supply by 11.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,498 shares of the industrial products company's stock worth $197,000 after buying an additional 156 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in SiteOne Landscape Supply during the fourth quarter worth $227,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SITE. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Truist Financial decreased 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. Deutsche Bank Aktiengesellschaft assumed coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They set a "hold" rating and a $135.00 price objective for the company. Barclays reduced their price objective on 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. Finally, Robert W. Baird cut their target price on SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Stock Performance

NYSE:SITE traded down $0.48 during mid-day trading on Friday, hitting $116.98. 372,742 shares of the stock were exchanged, compared to its average volume of 432,394. The firm's 50-day simple moving average is $117.16 and its 200 day simple moving average is $130.10. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 43.49 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.75.

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 analysts' consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. The business had revenue of $939.40 million for the quarter, compared to analyst estimates of $933.90 million. During the same period last year, the firm posted ($0.43) EPS. SiteOne Landscape Supply's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

SiteOne Landscape Supply Company Profile

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.