Fred Alger Management LLC Sells 50,851 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Fred Alger Management LLC lessened its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,456 shares of the industrial products company's stock after selling 50,851 shares during the quarter. Fred Alger Management LLC owned about 0.76% of SiteOne Landscape Supply worth $44,994,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $40,676,000. Artisan Partners Limited Partnership boosted its holdings 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 purchasing an additional 212,907 shares during the period. BLI Banque de Luxembourg Investments purchased a new position in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $22,787,000. Skandinaviska Enskilda Banken AB publ boosted its holdings 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 purchasing an additional 172,500 shares during the period. Finally, Wasatch Advisors LP boosted its holdings 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 purchasing an additional 153,447 shares during the period.

SiteOne Landscape Supply Trading Down 0.2%

Shares of NYSE:SITE traded down $0.30 on Tuesday, hitting $127.00. 366,240 shares of the company's stock were exchanged, compared to its average volume of 424,059. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $161.25. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 47.21 and a beta of 1.62. The business's 50 day simple moving average is $118.40 and its two-hundred day simple moving average is $132.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its 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). 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 the consensus estimate of $933.90 million. During the same quarter last year, the business posted ($0.43) earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SITE has been the subject of a number of recent research reports. StockNews.com upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Truist Financial dropped their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Loop Capital dropped their target price on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft initiated coverage on SiteOne Landscape Supply in a report on Tuesday, April 1st. They issued a "hold" rating and a $135.00 target price for the company. Finally, Barclays dropped their price objective on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. One research 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.