Vaughan Nelson Investment Management L.P. Reduces Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Vaughan Nelson Investment Management L.P. cut its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 66.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,852 shares of the industrial products company’s stock after selling 170,070 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.19% of SiteOne Landscape Supply worth $14,985,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at about $31,000. GAMMA Investing LLC purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at about $38,000. iA Global Asset Management Inc. purchased a new position in SiteOne Landscape Supply in the third quarter valued at about $105,000. Guardian Wealth Management Inc. purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at about $116,000. Finally, Eagle Bay Advisors LLC increased its stake in shares of SiteOne Landscape Supply by 85.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 837 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 385 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SITE shares. Barclays dropped their price objective on shares of SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating for the company in a research note on Wednesday, June 5th. Loop Capital decreased their target price on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. Stifel Nicolaus decreased their target price on shares of SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Robert W. Baird decreased their price target on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. Finally, Truist Financial decreased their price target on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $153.63.

SiteOne Landscape Supply Stock Down 0.8 %

Shares of SITE opened at $116.57 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 2.36 and a debt-to-equity ratio of 0.35. The firm has a market cap of $5.27 billion, a PE ratio of 33.79 and a beta of 1.52. The company’s fifty day moving average is $144.16 and its two-hundred day moving average is $157.81. SiteOne Landscape Supply, Inc. has a fifty-two week low of $115.55 and a fifty-two week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The business had revenue of $904.80 million for the quarter, compared to analyst estimates of $864.01 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Analysts forecast that SiteOne Landscape Supply, Inc. will post 3.81 earnings per share for the current year.

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.