Picton Mahoney Asset Management Acquires 1,200 Shares of SiteOne Landscape Supply Inc (SITE)

Picton Mahoney Asset Management raised its holdings in SiteOne Landscape Supply Inc (NYSE:SITE) by 6.6% during the third quarter, HoldingsChannel.com reports. The firm owned 19,300 shares of the industrial products company’s stock after buying an additional 1,200 shares during the period. Picton Mahoney Asset Management’s holdings in SiteOne Landscape Supply were worth $1,454,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank raised its stake in shares of SiteOne Landscape Supply by 35.0% in the second quarter. Amalgamated Bank now owns 6,113 shares of the industrial products company’s stock valued at $513,000 after buying an additional 1,586 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of SiteOne Landscape Supply by 6.1% in the second quarter. Conestoga Capital Advisors LLC now owns 812,006 shares of the industrial products company’s stock valued at $68,184,000 after buying an additional 46,410 shares during the period. Three Peaks Capital Management LLC bought a new stake in shares of SiteOne Landscape Supply in the second quarter valued at $1,708,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of SiteOne Landscape Supply in the second quarter valued at $419,000. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in shares of SiteOne Landscape Supply by 5.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 389,817 shares of the industrial products company’s stock valued at $32,733,000 after buying an additional 20,306 shares during the period.

NYSE:SITE opened at $62.91 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.29 and a current ratio of 2.72. SiteOne Landscape Supply Inc has a 52-week low of $58.70 and a 52-week high of $95.49. The firm has a market cap of $2.72 billion, a P/E ratio of 37.85 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.02). SiteOne Landscape Supply had a net margin of 3.90% and a return on equity of 31.11%. The company had revenue of $578.50 million for the quarter, compared to the consensus estimate of $590.23 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Research analysts forecast that SiteOne Landscape Supply Inc will post 1.97 earnings per share for the current year.

In related news, CEO Doug Black sold 12,000 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $90.01, for a total transaction of $1,080,120.00. Following the sale, the chief executive officer now directly owns 398,228 shares in the company, valued at approximately $35,844,502.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Pascal Convers sold 9,750 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $88.43, for a total value of $862,192.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,700 shares of company stock worth $7,310,225. 4.40% of the stock is currently owned by corporate insiders.

Several brokerages have issued reports on SITE. SunTrust Banks lowered their target price on SiteOne Landscape Supply to $79.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Deutsche Bank lowered their target price on SiteOne Landscape Supply from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Royal Bank of Canada set a $88.00 target price on SiteOne Landscape Supply and gave the company a “buy” rating in a research note on Thursday, November 1st. They noted that the move was a valuation call. Jefferies Financial Group began coverage on SiteOne Landscape Supply in a research note on Friday, October 12th. They issued a “buy” rating and a $80.00 target price on the stock. Finally, UBS Group upgraded SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and set a $75.00 target price on the stock in a research note on Thursday, October 11th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. SiteOne Landscape Supply presently has a consensus rating of “Buy” and an average target price of $80.33.

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SiteOne Landscape Supply Profile

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

Further Reading: Understanding each part of a balance sheet

Want to see what other hedge funds are holding SITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiteOne Landscape Supply Inc (NYSE:SITE).

Institutional Ownership by Quarter for SiteOne Landscape Supply (NYSE:SITE)

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