Kinetic Partners Management LP Makes New $16.71 Million Investment in SiteOne Landscape Supply, Inc. $SITE

Kinetic Partners Management LP bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 146,101 shares of the industrial products company’s stock, valued at approximately $16,715,000. Kinetic Partners Management LP owned 0.33% of SiteOne Landscape Supply as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SITE. Basecamp Wealth Advisors LLC increased its holdings in SiteOne Landscape Supply by 219.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after buying an additional 127 shares during the period. Whittier Trust Co. lifted its holdings in SiteOne Landscape Supply by 72.7% during the first quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $27,000 after buying an additional 88 shares during the period. Rothschild Investment LLC lifted its holdings in SiteOne Landscape Supply by 1,521.4% during the fourth quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock worth $28,000 after buying an additional 213 shares during the period. IFP Advisors Inc boosted its position in SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in SiteOne Landscape Supply during the 4th quarter valued at $42,000.

Insider Buying and Selling

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $112.52, for a total transaction of $63,236.24. Following the transaction, the director owned 11,267 shares in the company, valued at approximately $1,267,762.84. This represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Doug Black purchased 8,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was bought at an average cost of $102.03 per share, with a total value of $816,240.00. Following the acquisition, the chief executive officer owned 8,000 shares of the company’s stock, valued at approximately $816,240. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.10% of the company’s stock.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $95.23 on Wednesday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $90.07 and a fifty-two week high of $168.56. The company has a market cap of $4.16 billion, a PE ratio of 26.09, a P/E/G ratio of 1.38 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. The business has a 50-day simple moving average of $103.48 and a two-hundred day simple moving average of $120.78.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.22). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.86 EPS. As a group, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Robert W. Baird cut their target price on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Zacks Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Stifel Nicolaus reissued a “hold” rating and set a $100.00 price target (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Finally, Weiss Ratings cut shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $135.27.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.