![]() ![]() Show more SiteOne Landscape Supply Inc.: Hedge Funds Show Investment Interest Despite Mixed Q1 Results As the markets remain volatile onwards into this year, it will be interesting to see how other hedge funds follow suit in reshaping their investment portfolios or stick to safer bets in more traditional routes. In conclusion, Geode Capital Management LLC deserves commendation for its bold move into SiteOne Landscape Supply investments – a significant gain that can sweeten the hedge fund’s profit portfolio. Their current debt to equity ratio stands at approximately 0.47, accounting for their readily available capital in emergencies and upcoming projects with their current ratio of 2.58, making it easier for them to meet short-term obligations within reasonable margins. SiteOne Landscape Supply shares have risen considerably due to excellent market performance, currently being traded at $149.19 per share – rising over $0.99 (-0.66%) from their previous closing price recorded before publication on Monday – compared to an average daily trading volume of 296,228 shares traded during the period under review.įurthermore, it’s noteworthy that last year witnessed some lows concerning SiteOne Landscape Supply but also hit some highs recording their lowest being $97.36 while their 12-month high being $165.32. ![]() These insights allow investors to make informed decisions when selecting their next investment. To visitors hopping on this bandwagon too late or worried about potential lost gains from missed opportunities can visit which provide investors with up-to-date details on all purchases and sales made by different hedge funds. However, as with all financial investments, there are risks associated with leveraging funds into such unknown territories. SiteOne Landscape Supply is an industrial products company that provides landscape supplies to contractors and designers across several US states and Canada. As such gains are unusual for a hedge fund like Geode that mainly deals with investments in diversified risky options across various markets for a broad range of clients making significant profits on them. The latest data from SEC shows that Geode Capital Management LLC increased its holding in SITE by 5.6%, currently owning around 1.33% worth $70,183,000 of SiteOne Landscape Supply’s stock after purchasing an additional 31,837 shares in the final quarter of last year. Geode’s investment portfolio has been altered significantly because of this purchase, contributing to its rise as a popular hedge fund. The startling revelation is now confirmed by the recent filing by the company with the Securities and Exchange Commission. (NYSE:SITE) shares during the fourth quarter of last year. With the economy ailing, revenue synergies failing to materialize, and dealers upset over channel conflicts, in 2013 Deere sold 60% of the business to Clayton, Dubilier & Rice, who hired Doug Black as CEO.Geode Capital Management LLC, the well-known investment firm based in Boston, has recently come into the limelight with its latest purchase of SiteOne Landscape Supply, Inc. The re-christened John Deere Landscapes expanded its store and product footprint through the acquisitions of United Green Mark (irrigation, nursery, outdoor lighting) in 2005 and LESCO (private label agronomics brand) in 2007…just in time for the Great Recession. ![]() They’ve sustained these returns by differentiating on service and selection for large and mid-sized contractors, among whom SiteOne commands ~25% market share compared to just ~6%-8% share of smaller landscapers. On the whole these deals, paired with disciplined execution, have created significant value – since 2016, SiteOne has grown EBITA by $327mn on $1.2bn of incremental capital. The company was birthed through the merger of McGinnis Farms and Century Rain Aid inside of John Deere, who thought that selling nursery, landscaping, and irrigation products to commercial landscapers would also help them sell more tractors and mowers. It is in the early innings of rolling up a fragmented $23bn industry, its share 5x that of the next largest player but still just a 15% of the overall market, which consists of more than 1k mostly mom-and-pop distributors. SiteOne sources 135k landscaping SKUs from 5k suppliers and distributes to 280k customers, most of them private contractors operating in a single market. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |