Vanguard Group Inc. Reduces Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

Vanguard Group Inc. lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,061,856 shares of the industrial products company’s stock after selling 52,188 shares during the period. Vanguard Group Inc. owned about 9.12% of SiteOne Landscape Supply worth $523,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. NewEdge Advisors LLC increased its holdings in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 107 shares during the last quarter. HM Payson & Co. raised its position in SiteOne Landscape Supply by 32.2% in the third quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 97 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of SiteOne Landscape Supply by 145.2% during the second quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company’s stock worth $55,000 after buying an additional 270 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of SiteOne Landscape Supply by 276.5% in the 3rd quarter. Bessemer Group Inc. now owns 448 shares of the industrial products company’s stock valued at $58,000 after buying an additional 329 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SITE shares. Barclays lifted their price objective on SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Robert W. Baird set a $190.00 price objective on shares of SiteOne Landscape Supply in a report on Thursday, February 12th. Royal Bank Of Canada boosted their price target on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Stifel Nicolaus set a $144.00 target price on SiteOne Landscape Supply in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, SiteOne Landscape Supply currently has a consensus rating of “Hold” and an average target price of $159.44.

Insider Activity

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply stock in a transaction on Friday, February 13th. The shares were sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the transaction, the executive vice president owned 2,911 shares of the company’s stock, valued at $459,967.11. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.60% of the stock is currently owned by insiders.

SiteOne Landscape Supply Trading Down 5.4%

Shares of SITE opened at $140.32 on Thursday. The stock’s fifty day simple moving average is $141.87 and its 200 day simple moving average is $135.39. The firm has a market capitalization of $6.24 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.59. The company has a current ratio of 2.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted ($0.48) earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, equities research 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 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.