SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Fred Alger Management LLC

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC lifted its holdings in SiteOne Landscape Supply by 71.2% during the 3rd quarter. Barclays PLC now owns 48,398 shares of the industrial products company's stock worth $7,304,000 after buying an additional 20,134 shares in the last quarter. US Bancorp DE raised its stake in shares of SiteOne Landscape Supply by 10.5% in the fourth quarter. US Bancorp DE now owns 6,717 shares of the industrial products company's stock valued at $885,000 after acquiring an additional 638 shares in the last quarter. SG Americas Securities LLC purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at $427,000. Jones Financial Companies Lllp grew its stake in SiteOne Landscape Supply by 11.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,498 shares of the industrial products company's stock worth $197,000 after purchasing an additional 156 shares in the last quarter. Finally, Crown Oak Advisors LLC increased its holdings in SiteOne Landscape Supply by 12.9% during the 4th quarter. Crown Oak Advisors LLC now owns 53,084 shares of the industrial products company's stock worth $6,995,000 after purchasing an additional 6,074 shares during the period.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE traded down $0.67 during trading hours on Friday, reaching $120.69. The stock had a trading volume of 258,501 shares, compared to its average volume of 420,853. The firm has a 50-day moving average of $118.34 and a 200-day moving average of $132.79. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 44.87 and a beta of 1.62. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $161.25.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share (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 analysts' expectations of $933.90 million. During the same quarter last year, the business posted ($0.43) earnings per share. The business's revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft started 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 dropped their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus decreased their price objective on shares of 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 target price on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Finally, Truist Financial decreased their price target 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. One equities 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 stock. According to MarketBeat.com, SiteOne Landscape Supply currently has a consensus rating of "Hold" and an average target price of $145.70.

SiteOne Landscape Supply 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.