Lighthouse Investment Partners LLC Buys New Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Lighthouse Investment Partners LLC bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the industrial products company's stock, valued at approximately $1,318,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of SiteOne Landscape Supply by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company's stock worth $548,503,000 after buying an additional 49,256 shares during the period. Wasatch Advisors LP lifted its holdings in SiteOne Landscape Supply by 9.7% in the fourth quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock valued at $228,107,000 after buying an additional 153,447 shares during the period. Bamco Inc. NY boosted its position in SiteOne Landscape Supply by 4.6% during the fourth quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock valued at $217,786,000 after acquiring an additional 72,430 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in SiteOne Landscape Supply by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company's stock worth $210,570,000 after acquiring an additional 91,719 shares during the period. Finally, Conestoga Capital Advisors LLC grew its holdings in SiteOne Landscape Supply by 2.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,167,454 shares of the industrial products company's stock worth $153,835,000 after acquiring an additional 30,725 shares during the period.

SiteOne Landscape Supply Stock Down 1.9%

Shares of NYSE SITE opened at $124.55 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The company has a 50-day moving average price of $118.44 and a 200-day moving average price of $132.59. The stock has a market capitalization of $5.58 billion, a P/E ratio of 46.30 and a beta of 1.62. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $161.25.

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 business had revenue of $939.40 million during the quarter, compared to the consensus estimate 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 was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) EPS. On average, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SITE shares. Robert W. Baird cut their price target on SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus cut their target price on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. StockNews.com upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Barclays decreased their price target on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada cut their price objective on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply presently has an average rating of "Hold" and an average target price of $145.70.

About SiteOne Landscape Supply

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.

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