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

Vaughan Nelson Investment Management L.P. lowered its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 62.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,345 shares of the industrial products company’s stock after selling 123,869 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in SiteOne Landscape Supply were worth $11,220,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. MJP Associates Inc. ADV raised its stake in shares of SiteOne Landscape Supply by 5.7% during the second quarter. MJP Associates Inc. ADV now owns 1,707 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 92 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of SiteOne Landscape Supply by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,018 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 98 shares during the period. Equitable Trust Co. raised its stake in shares of SiteOne Landscape Supply by 3.0% during the second quarter. Equitable Trust Co. now owns 3,558 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 103 shares during the period. Arkadios Wealth Advisors raised its stake in shares of SiteOne Landscape Supply by 6.1% during the third quarter. Arkadios Wealth Advisors now owns 1,842 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 106 shares during the period. Finally, iA Global Asset Management Inc. increased its stake in shares of SiteOne Landscape Supply by 7.9% in the first quarter. iA Global Asset Management Inc. now owns 1,741 shares of the industrial products company’s stock worth $304,000 after buying an additional 127 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SITE shares. The Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target for the company. Robert W. Baird lifted their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada dropped their price target on shares of 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 lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target for the company. in a research note on Thursday, August 1st. Finally, Barclays lifted their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $147.80.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $140.60 on Monday. SiteOne Landscape Supply, Inc. has a 1 year low of $114.60 and a 1 year high of $188.01. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 45.50 and a beta of 1.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The firm has a fifty day moving average of $145.12 and a 200-day moving average of $140.85.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $1.25 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current year.

SiteOne Landscape Supply 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.