Cubist Systematic Strategies LLC Sells 6,899 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in SiteOne Landscape Supply by 21.9%, now holding approximately 0.05% of the company valued at $2.99 million.
• Several major investors have increased their positions in SiteOne, including Price T Rowe Associates, which raised its stake by 12.2%, now owning over $738 million in shares.
• SiteOne Landscape Supply's stock has a consensus rating of "Hold" with a target price of $147.00 from analysts, following an upgrade from a "sell" rating by Wall Street Zen.

Cubist Systematic Strategies LLC reduced its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 21.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,606 shares of the industrial products company's stock after selling 6,899 shares during the period. Cubist Systematic Strategies LLC owned 0.05% of SiteOne Landscape Supply worth $2,988,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. HM Payson & Co. purchased a new position in shares of SiteOne Landscape Supply during the 1st quarter worth approximately $25,000. Brooklyn Investment Group bought a new stake in shares of SiteOne Landscape Supply during the first quarter valued at approximately $32,000. Golden State Wealth Management LLC grew its stake in SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after purchasing an additional 139 shares during the period. Eastern Bank bought a new position in SiteOne Landscape Supply in the first quarter worth $38,000. Finally, GAMMA Investing LLC raised its holdings in SiteOne Landscape Supply by 24.3% in the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after purchasing an additional 95 shares in the last quarter.

Insiders Place Their Bets

In related news, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the transaction, the executive vice president directly owned 13,663 shares in the company, valued at approximately $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Doug Black sold 29,760 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $129.28, for a total value of $3,847,372.80. Following the completion of the sale, the chief executive officer owned 596,684 shares of the company's stock, valued at approximately $77,139,307.52. The trade was a 4.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SITE. Royal Bank Of Canada lifted their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $147.00.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE traded down $1.67 during midday trading on Thursday, hitting $141.56. 249,082 shares of the company's stock traded hands, compared to its average volume of 517,989. The firm has a fifty day moving average of $136.40 and a 200 day moving average of $125.65. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $160.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 51.73, a price-to-earnings-growth ratio of 2.38 and a beta of 1.60.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.63 earnings per share. On average, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

SiteOne Landscape Supply Profile

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.