59 North Capital Management LP Invests $214.42 Million in SiteOne Landscape Supply, Inc. $SITE

59 North Capital Management LP bought a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,664,731 shares of the industrial products company’s stock, valued at approximately $214,417,000. SiteOne Landscape Supply accounts for about 6.7% of 59 North Capital Management LP’s investment portfolio, making the stock its 8th biggest position. 59 North Capital Management LP owned approximately 3.74% of SiteOne Landscape Supply at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Man Group plc lifted its stake in SiteOne Landscape Supply by 0.4% in the second quarter. Man Group plc now owns 22,338 shares of the industrial products company’s stock valued at $2,702,000 after buying an additional 86 shares during the last quarter. Allworth Financial LP grew its position in shares of SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. HM Payson & Co. increased its holdings in shares of SiteOne Landscape Supply by 32.2% in the 3rd quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 97 shares during the period. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of SiteOne Landscape Supply by 1.8% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 5,797 shares of the industrial products company’s stock valued at $747,000 after acquiring an additional 105 shares during the period. Finally, NewEdge Advisors LLC raised its position in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 107 shares during the last quarter.

SiteOne Landscape Supply Stock Down 0.2%

SiteOne Landscape Supply stock opened at $130.06 on Friday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $168.56. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.59. The stock’s fifty day moving average is $144.33 and its two-hundred day moving average is $135.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.20 and a current ratio of 2.47.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted ($0.48) EPS. The business’s revenue was up 3.2% on a year-over-year basis. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SITE. Robert W. Baird set a $190.00 price target on shares of SiteOne Landscape Supply in a research note on Thursday, February 12th. Stifel Nicolaus set a $144.00 price objective on shares of SiteOne Landscape Supply in a research note on Monday, February 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, January 21st. Zacks Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Finally, Royal Bank Of Canada boosted their price target on SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $159.44.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, EVP Eric J. Elema sold 1,765 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the transaction, the executive vice president owned 2,911 shares of the company’s stock, valued at $459,967.11. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.