HighTower Advisors LLC Reduces Stock Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

HighTower Advisors LLC reduced its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,432 shares of the industrial products company’s stock after selling 1,134 shares during the period. HighTower Advisors LLC’s holdings in SiteOne Landscape Supply were worth $2,029,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of SiteOne Landscape Supply by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,018 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 98 shares during the period. Equitable Trust Co. increased its position in shares of SiteOne Landscape Supply by 3.0% during the second quarter. Equitable Trust Co. now owns 3,558 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 103 shares during the last quarter. Arkadios Wealth Advisors raised its stake in shares of SiteOne Landscape Supply by 6.1% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,842 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 106 shares during the period. Glenmede Trust Co. NA boosted its position in shares of SiteOne Landscape Supply by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,279 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 119 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in SiteOne Landscape Supply by 35.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 521 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 135 shares during the last quarter.

Wall Street Analyst Weigh In

SITE has been the topic of a number of research reports. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. The Goldman Sachs Group started coverage on 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. Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their target price for the company from $145.00 to $175.00 in a report on Friday, December 6th. Barclays raised their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird upped their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, SiteOne Landscape Supply presently has an average rating of “Hold” and a consensus price target of $156.44.

SiteOne Landscape Supply Trading Down 2.6 %

SITE opened at $141.29 on Friday. 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, Inc. has a one year low of $114.60 and a one year high of $188.01. The company has a market cap of $6.38 billion, a P/E ratio of 45.72 and a beta of 1.54. The business’s 50-day simple moving average is $146.21 and its 200-day simple moving average is $139.94.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $142.20, for a total transaction of $924,300.00. Following the transaction, the executive vice president now owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.

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.