Wealth Alliance Sells 85 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Wealth Alliance reduced its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,551 shares of the industrial products company’s stock after selling 85 shares during the period. Wealth Alliance’s holdings in SiteOne Landscape Supply were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Toronto Dominion Bank bought a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at $29,000. Principal Securities Inc. bought a new stake in SiteOne Landscape Supply during the fourth quarter valued at about $31,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in SiteOne Landscape Supply in the second quarter worth about $27,000. Benjamin F. Edwards & Company Inc. increased its position in SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after buying an additional 247 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in shares of SiteOne Landscape Supply in the first quarter worth about $58,000.

Insider Buying and Selling

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 878 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the completion of the sale, the director now owns 11,267 shares of the company’s stock, valued at $1,453,893.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Price Performance

NYSE:SITE opened at $153.52 on Friday. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 44.50 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.47 and a quick ratio of 1.10. The business has a 50 day simple moving average of $138.34 and a 200-day simple moving average of $148.18. SiteOne Landscape Supply, Inc. has a 1 year low of $114.60 and a 1 year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.50 by $0.13. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. SiteOne Landscape Supply’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SITE shares. Royal Bank of Canada cut their price objective on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a research note on Thursday, August 1st. Jefferies Financial Group cut their price target on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. UBS Group lowered their price objective on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Barclays cut their target price on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $144.33.

SiteOne Landscape Supply Company 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.