Magnetar Financial LLC Purchases New Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Magnetar Financial LLC acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 14,350 shares of the industrial products company's stock, valued at approximately $1,891,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tidal Investments LLC boosted its position in SiteOne Landscape Supply by 1.5% during the third quarter. Tidal Investments LLC now owns 5,166 shares of the industrial products company's stock valued at $780,000 after purchasing an additional 77 shares during the last quarter. Arizona State Retirement System raised its position in SiteOne Landscape Supply by 0.6% during the fourth quarter. Arizona State Retirement System now owns 13,096 shares of the industrial products company's stock worth $1,726,000 after acquiring an additional 77 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in SiteOne Landscape Supply by 90.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of SiteOne Landscape Supply by 2.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,279 shares of the industrial products company's stock valued at $797,000 after acquiring an additional 119 shares during the period. Finally, Tortoise Investment Management LLC increased its stake in shares of SiteOne Landscape Supply by 78.9% during the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock worth $39,000 after purchasing an additional 131 shares during the last quarter.

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SiteOne Landscape Supply Stock Performance

Shares of SITE traded down $0.48 during midday trading on Tuesday, reaching $127.82. 268,075 shares of the stock were exchanged, compared to its average volume of 376,351. The stock's 50 day simple moving average is $134.31 and its 200 day simple moving average is $139.84. The company has a market cap of $5.75 billion, a P/E ratio of 47.52 and a beta of 1.69. SiteOne Landscape Supply, Inc. has a twelve month low of $114.60 and a twelve month high of $186.42. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. On average, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and lifted their price target for the stock from $145.00 to $175.00 in a report on Friday, December 6th. Stifel Nicolaus reiterated a "hold" rating and set a $140.00 target price (down from $145.00) on shares of SiteOne Landscape Supply in a research note on Monday, February 10th. StockNews.com upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Sunday, March 16th. Royal Bank of Canada lifted their price objective on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Finally, UBS Group decreased their price objective on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Hold" and a consensus target price of $154.56.

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.