Vanguard Group Inc. Decreases Stake in SiteOne Landscape Supply, Inc. $SITE

Vanguard Group Inc. lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 4,009,546 shares of the industrial products company’s stock after selling 52,310 shares during the period. Vanguard Group Inc. owned 0.09% of SiteOne Landscape Supply worth $499,429,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in SITE. B. Metzler seel. Sohn & Co. AG boosted its stake in SiteOne Landscape Supply by 11.4% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 38,397 shares of the industrial products company’s stock worth $4,783,000 after buying an additional 3,916 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of SiteOne Landscape Supply by 29.1% during the fourth quarter. HB Wealth Management LLC now owns 2,891 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 651 shares in the last quarter. M&T Bank Corp raised its holdings in SiteOne Landscape Supply by 256.6% in the fourth quarter. M&T Bank Corp now owns 9,028 shares of the industrial products company’s stock worth $1,125,000 after purchasing an additional 6,496 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SiteOne Landscape Supply by 8.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,134 shares of the industrial products company’s stock worth $1,761,000 after purchasing an additional 1,151 shares in the last quarter. Finally, Krilogy Financial LLC bought a new position in SiteOne Landscape Supply in the fourth quarter worth $310,000.

SiteOne Landscape Supply Trading Down 3.4%

Shares of NYSE SITE opened at $121.14 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. The stock has a market capitalization of $5.37 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.42. SiteOne Landscape Supply, Inc. has a 1-year low of $112.23 and a 1-year high of $168.56. The business has a fifty day moving average price of $135.60 and a 200 day moving average price of $135.06.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The company had revenue of $940.10 million for the quarter, compared to analysts’ expectations of $982.27 million. SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.61) EPS. Equities research analysts expect that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SITE has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, January 21st. Bank of America dropped their target price on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. UBS Group started coverage on SiteOne Landscape Supply in a research report on Friday, April 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Thursday, April 30th. Finally, Stifel Nicolaus raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, SiteOne Landscape Supply currently has an average rating of “Moderate Buy” and an average target price of $160.10.

Insider Activity

In other news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $158.01, for a total value of $278,887.65. Following the sale, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Company 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.