Curated Wealth Partners LLC Sells 34,344 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Curated Wealth Partners LLC reduced its SiteOne Landscape Supply position by 90.4% in the third quarter, selling 34,344 shares and retaining 3,645 shares valued at approximately $329,000.
• Analyst sentiment is mixed but leans neutral: the stock has a consensus “Hold” rating and a $121 average price target, while several firms recently lowered their targets.
• SiteOne’s latest quarterly results missed expectations, with earnings of $3.14 per share versus a $3.36 estimate, although revenue increased 4.7% year over year to $1.53 billion. CEO Doug Black separately bought 5,000 shares at an average price of $96.13.

Curated Wealth Partners LLC cut its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 90.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,645 shares of the industrial products company's stock after selling 34,344 shares during the period. Curated Wealth Partners LLC's holdings in SiteOne Landscape Supply were worth $329,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SITE. Fortitude Family Office LLC boosted its stake in shares of SiteOne Landscape Supply by 2,178.6% in the third quarter. Fortitude Family Office LLC now owns 319 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 305 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of SiteOne Landscape Supply by 18.1% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,892 shares of the industrial products company's stock valued at $713,000 after purchasing an additional 1,208 shares in the last quarter. Krilogy Financial LLC grew its holdings in shares of SiteOne Landscape Supply by 69.9% in the third quarter. Krilogy Financial LLC now owns 6,871 shares of the industrial products company's stock valued at $605,000 after purchasing an additional 2,828 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in SiteOne Landscape Supply during the 3rd quarter worth approximately $529,000. Finally, GAMMA Investing LLC increased its stake in SiteOne Landscape Supply by 86.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,101 shares of the industrial products company's stock worth $370,000 after buying an additional 1,904 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SITE shares. Deutsche Bank Aktiengesellschaft lowered shares of SiteOne Landscape Supply from a "buy" rating to a "hold" rating and reduced their target price for the stock from $127.00 to $91.00 in a report on Thursday, October 8th. UBS Group cut their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. KeyCorp reduced their price objective on SiteOne Landscape Supply from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Barclays decreased their target price on SiteOne Landscape Supply from $129.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Finally, The Goldman Sachs Group set a $100.00 target price on SiteOne Landscape Supply in a report on Monday, October 12th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, SiteOne Landscape Supply presently has a consensus rating of "Hold" and a consensus price target of $121.00.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $94.84 on Friday. The business has a 50-day simple moving average of $93.69 and a 200-day simple moving average of $107.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. SiteOne Landscape Supply, Inc. has a one year low of $82.00 and a one year high of $168.56. The company has a market cap of $4.14 billion, a PE ratio of 25.98, a P/E/G ratio of 1.45 and a beta of 1.38.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business earned $2.86 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black acquired 5,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average cost of $96.13 per share, for a total transaction of $480,650.00. Following the acquisition, the chief executive officer owned 13,000 shares of the company's stock, valued at $1,249,690. This trade represents a 62.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company's stock.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, landscape designers, irrigation professionals, golf course managers, government agencies and other green-industry businesses through a network of distribution centers and branches.

Its product portfolio includes irrigation and outdoor lighting equipment, nursery products, turf and landscape maintenance supplies, fertilizers and other agronomic products, hardscape materials, outdoor living products, and golf course maintenance supplies.

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