Quadrature Capital Ltd Trims Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Quadrature Capital Ltd lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 29.4% during the 1st quarter, HoldingsChannel reports. The fund owned 12,568 shares of the industrial products company’s stock after selling 5,232 shares during the period. Quadrature Capital Ltd’s holdings in SiteOne Landscape Supply were worth $2,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in shares of SiteOne Landscape Supply in the first quarter valued at $29,000. Carlson Capital L P purchased a new stake in shares of SiteOne Landscape Supply in the first quarter valued at $6,231,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of SiteOne Landscape Supply in the first quarter valued at $126,000. O Shaughnessy Asset Management LLC raised its stake in shares of SiteOne Landscape Supply by 20.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,601 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 270 shares during the period. Finally, Summit Creek Advisors LLC increased its stake in SiteOne Landscape Supply by 0.6% in the 1st quarter. Summit Creek Advisors LLC now owns 76,707 shares of the industrial products company’s stock worth $13,389,000 after buying an additional 479 shares during the period.

SiteOne Landscape Supply Stock Up 2.5 %

NYSE SITE traded up $3.56 during trading on Friday, reaching $145.50. 489,559 shares of the company’s stock traded hands, compared to its average volume of 541,475. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.36 and a quick ratio of 0.96. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 42.17 and a beta of 1.52. The company’s 50 day simple moving average is $134.87 and its two-hundred day simple moving average is $154.09. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). The firm had revenue of $904.80 million during the quarter, compared to the consensus estimate of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) earnings per share. As a group, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial reduced their price target on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Barclays reduced their price target on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Loop Capital reduced their price target on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a research note on Thursday, June 13th. Robert W. Baird reduced their price target on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Jefferies Financial Group cut their target price on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $147.11.

SiteOne Landscape Supply Company 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.