Aigen Investment Management LP Reduces Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Aigen Investment Management LP lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 37.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,732 shares of the industrial products company’s stock after selling 1,669 shares during the period. Aigen Investment Management LP’s holdings in SiteOne Landscape Supply were worth $412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in SiteOne Landscape Supply by 1.7% in the 1st quarter. Russell Investments Group Ltd. now owns 48,365 shares of the industrial products company’s stock worth $8,569,000 after purchasing an additional 789 shares in the last quarter. US Bancorp DE boosted its stake in SiteOne Landscape Supply by 6.2% during the first quarter. US Bancorp DE now owns 4,144 shares of the industrial products company’s stock worth $723,000 after buying an additional 241 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in SiteOne Landscape Supply by 4.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 56,312 shares of the industrial products company’s stock valued at $9,829,000 after buying an additional 2,311 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of SiteOne Landscape Supply in the 1st quarter worth $290,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of SiteOne Landscape Supply during the 1st quarter worth $21,860,000.

Analyst Ratings Changes

A number of equities analysts have commented on SITE shares. The Goldman Sachs Group began coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They set a “neutral” rating and a $158.00 target price on the stock. Robert W. Baird upped 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. Royal Bank of Canada cut their target price on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Truist Financial upped their price target on SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and a consensus price target of $147.80.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $142.83 on Friday. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 46.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The business has a 50-day moving average of $144.86 and a 200 day moving average of $141.10. 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 posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current year.

About SiteOne Landscape Supply

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.