Inspect the supply line all the way from the connection point at the house to the connection point at the pressure vacuum breaker. The most likely place for a leak is at the connection with the brass breaker, which keeps water from flowing back into the main line. A leak will cause water to drip down the pipe, or spray from the ball valve.
It's important to disassemble the connection point to assess the damage and repair the leak. Use a pipe wrench to unscrew the locking nut on the base of the ball valve. That will release the pipe.
If there is a crack or other damage, replace the pipe with a new one of the same length. If there is no visible damage, try pushing the pipe further up into the ball valve and tightening the locking nut.