12,782 Shares in SiteOne Landscape Supply, Inc. (NYSE:SITE) Purchased by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,782 shares of the industrial products company's stock, valued at approximately $1,684,000.

Other hedge funds have also bought and sold shares of the company. Trust Co. of Vermont lifted its holdings in SiteOne Landscape Supply by 657.9% during the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock worth $38,000 after acquiring an additional 250 shares during the period. Tortoise Investment Management LLC raised its stake in shares of SiteOne Landscape Supply by 78.9% in the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock valued at $39,000 after buying an additional 131 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at $40,000. Brown Brothers Harriman & Co. raised its stake in shares of SiteOne Landscape Supply by 395.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock valued at $45,000 after buying an additional 273 shares during the period. Finally, State of Wyoming raised its stake in shares of SiteOne Landscape Supply by 6.2% in the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock valued at $183,000 after buying an additional 81 shares during the period.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE traded up $0.04 during mid-day trading on Friday, hitting $115.81. The company had a trading volume of 432,157 shares, compared to its average volume of 429,196. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 43.05 and a beta of 1.62. 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. The stock's 50-day moving average price is $118.04 and its 200-day moving average price is $131.57.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share 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 net margin of 2.72% and a return on equity of 7.93%. SiteOne Landscape Supply's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.43) earnings per share. On average, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SITE shares. Truist Financial lowered their target price on 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. Loop Capital lowered their target price on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. Barclays lowered their target price on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada lowered their target price on 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. Finally, Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $145.70.

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.