SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 392,307 shares of the industrial products company's stock after selling 40,637 shares during the quarter. Fred Alger Management LLC owned approximately 0.87% of SiteOne Landscape Supply worth $59,203,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in shares of SiteOne Landscape Supply during the third quarter worth approximately $4,771,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SiteOne Landscape Supply by 14.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,207 shares of the industrial products company's stock valued at $1,691,000 after acquiring an additional 1,372 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in SiteOne Landscape Supply by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,279 shares of the industrial products company's stock worth $797,000 after acquiring an additional 119 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of SiteOne Landscape Supply by 149.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,805 shares of the industrial products company's stock worth $1,480,000 after purchasing an additional 5,877 shares during the last quarter. Finally, FMR LLC raised its stake in shares of SiteOne Landscape Supply by 52.9% in the 3rd quarter. FMR LLC now owns 5,336 shares of the industrial products company's stock valued at $805,000 after purchasing an additional 1,846 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. 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 report on Wednesday, October 16th. StockNews.com upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. The Goldman Sachs Group initiated coverage on SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a "neutral" rating and a $158.00 price target on the stock. Finally, Barclays lifted their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an "underweight" rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of "Hold" and a consensus price target of $147.80.

SiteOne Landscape Supply Stock Performance

SiteOne Landscape Supply stock traded up $0.33 during midday trading on Friday, reaching $153.25. 196,754 shares of the stock traded hands, compared to its average volume of 362,639. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 49.60 and a beta of 1.53. The firm has a fifty day moving average price of $146.38 and a two-hundred day moving average price of $140.50.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business's quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

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.