Fred Alger Management LLC Sells 40,637 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Fred Alger Management LLC decreased its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 392,307 shares of the industrial products company’s stock after selling 40,637 shares during the period. Fred Alger Management LLC owned about 0.87% of SiteOne Landscape Supply worth $59,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MJP Associates Inc. ADV grew its holdings in SiteOne Landscape Supply by 5.7% during the second quarter. MJP Associates Inc. ADV now owns 1,707 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 92 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in SiteOne Landscape Supply by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,018 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 98 shares during the period. Equitable Trust Co. grew its holdings in SiteOne Landscape Supply by 3.0% during the second quarter. Equitable Trust Co. now owns 3,558 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 103 shares during the period. Arkadios Wealth Advisors grew its holdings in SiteOne Landscape Supply by 6.1% during the third quarter. Arkadios Wealth Advisors now owns 1,842 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 106 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in SiteOne Landscape Supply by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 5,279 shares of the industrial products company’s stock valued at $797,000 after purchasing an additional 119 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently commented on SITE shares. Robert W. Baird boosted their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays boosted their price objective on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group started coverage on SiteOne Landscape Supply in a research report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective on the stock. Stifel Nicolaus downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price objective on the stock. in a research report on Thursday, August 1st. Finally, Royal Bank of Canada lowered their price objective on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, SiteOne Landscape Supply has a consensus rating of “Hold” and a consensus price target of $147.80.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares in the company, valued at approximately $1,840,352.40. The trade was a 33.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is owned by company insiders.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $152.92 on Friday. The stock has a 50-day moving average of $146.30 and a two-hundred day moving average of $140.53. SiteOne Landscape Supply, Inc. has a one year low of $114.60 and a one year high of $188.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The stock has a market cap of $6.90 billion, a P/E ratio of 49.49 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, research analysts predict that SiteOne Landscape Supply, Inc. will post 3.41 EPS for the current year.

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.