Balyasny Asset Management L.P. Sells 127,941 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Balyasny Asset Management L.P. lessened its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 67.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,630 shares of the industrial products company’s stock after selling 127,941 shares during the quarter. Balyasny Asset Management L.P.’s holdings in SiteOne Landscape Supply were worth $7,989,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SITE. Trust Co. of Vermont boosted its holdings in SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 250 shares during the period. Tortoise Investment Management LLC grew its holdings in shares of SiteOne Landscape Supply by 78.9% in the fourth 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. Pilgrim Partners Asia Pte Ltd purchased a new position in SiteOne Landscape Supply in the 4th quarter worth about $40,000. Brown Brothers Harriman & Co. lifted its holdings in SiteOne Landscape Supply by 395.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock valued at $45,000 after buying an additional 273 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in SiteOne Landscape Supply in the 3rd quarter valued at about $71,000.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $120.69 on Friday. The company has a market capitalization of $5.41 billion, a PE ratio of 44.87 and a beta of 1.62. The company has a 50-day simple moving average of $118.34 and a two-hundred day simple moving average of $132.84. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $161.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. The firm had revenue of $939.40 million for the quarter, compared to analysts’ expectations of $933.90 million. During the same period in the previous year, the company earned ($0.43) EPS. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SITE shares. Barclays reduced their target price on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird decreased their target price on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Truist Financial dropped their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on SiteOne Landscape Supply in a report on Tuesday, April 1st. They issued a “hold” rating and a $135.00 price objective for the company. Finally, Loop Capital dropped their target price on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $145.70.

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.