PDT Partners LLC Makes New $1.26 Million Investment in SiteOne Landscape Supply, Inc. (NYSE:SITE)

PDT Partners LLC acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,354 shares of the industrial products company’s stock, valued at approximately $1,261,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in SiteOne Landscape Supply in the 2nd quarter valued at $27,000. Blue Trust Inc. lifted its stake in shares of SiteOne Landscape Supply by 287.7% in the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after buying an additional 187 shares during the period. American National Bank & Trust bought a new stake in shares of SiteOne Landscape Supply in the third quarter valued at about $49,000. Quarry LP acquired a new stake in SiteOne Landscape Supply during the second quarter worth about $61,000. Finally, National Bank of Canada FI increased its stake in SiteOne Landscape Supply by 67.5% during the second quarter. National Bank of Canada FI now owns 536 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 216 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SITE. Robert W. Baird lifted their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Barclays increased their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a “neutral” rating and a $158.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus price target of $147.80.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $153.25 on Monday. The stock has a market capitalization of $6.91 billion, a P/E ratio of 49.60 and a beta of 1.53. SiteOne Landscape Supply, Inc. has a 1 year low of $114.60 and a 1 year high of $188.01. The firm has a 50 day moving average of $146.38 and a 200-day moving average of $140.23. 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 (NYSE:SITE) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $1.25 EPS. SiteOne Landscape Supply’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.41 EPS for the current fiscal year.

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.