Sovereign s Capital Management LLC Buys New Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Sovereign s Capital Management LLC purchased a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 12,782 shares of the industrial products company's stock, valued at approximately $1,684,000.

Several other hedge funds have also modified their holdings of SITE. Two Sigma Investments LP purchased a new position in SiteOne Landscape Supply in the 4th quarter valued at approximately $2,067,000. State of Wyoming increased its stake in SiteOne Landscape Supply by 6.2% in the 4th 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in SiteOne Landscape Supply in the 4th quarter valued at approximately $9,142,000. Quantinno Capital Management LP increased its stake in SiteOne Landscape Supply by 205.2% in the 4th quarter. Quantinno Capital Management LP now owns 18,335 shares of the industrial products company's stock valued at $2,416,000 after purchasing an additional 12,328 shares in the last quarter. Finally, Man Group plc increased its stake in SiteOne Landscape Supply by 121.2% in the 4th quarter. Man Group plc now owns 29,934 shares of the industrial products company's stock valued at $3,944,000 after purchasing an additional 16,403 shares in the last quarter.

Analyst Upgrades and Downgrades

SITE has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Loop Capital dropped their price target on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Royal Bank of Canada dropped their price target on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. StockNews.com raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Truist Financial dropped their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Trading Down 4.5%

Shares of NYSE:SITE traded down $5.45 during midday trading on Wednesday, reaching $116.09. The company's stock had a trading volume of 346,379 shares, compared to its average volume of 428,574. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 43.16 and a beta of 1.62. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $160.75. The business has a 50 day moving average price of $118.20 and a 200 day moving average price of $131.78.

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) EPS for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. The business had revenue of $939.40 million during the quarter, compared to analysts' expectations of $933.90 million. During the same period in the prior year, the firm earned ($0.43) EPS. SiteOne Landscape Supply's revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current 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.