Edgestream Partners L.P. Purchases Shares of 11,401 SiteOne Landscape Supply, Inc. (NYSE:SITE)

Edgestream Partners L.P. bought a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,401 shares of the industrial products company's stock, valued at approximately $1,721,000.

Several other large investors have also recently bought and sold shares of SITE. Bank of New York Mellon Corp grew its holdings in shares of SiteOne Landscape Supply by 49.3% during the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company's stock worth $58,226,000 after purchasing an additional 158,350 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of SiteOne Landscape Supply by 130.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company's stock worth $24,065,000 after buying an additional 112,362 shares during the period. American Century Companies Inc. boosted its stake in shares of SiteOne Landscape Supply by 44.3% during the second quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company's stock worth $43,717,000 after buying an additional 110,589 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of SiteOne Landscape Supply during the second quarter worth about $7,540,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of SiteOne Landscape Supply by 10.3% during the second quarter. Dimensional Fund Advisors LP now owns 568,349 shares of the industrial products company's stock worth $69,007,000 after buying an additional 53,131 shares during the period.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded down $2.54 during midday trading on Wednesday, reaching $148.53. 236,939 shares of the company traded hands, compared to its average volume of 361,126. The firm's 50 day simple moving average is $146.44 and its two-hundred day simple moving average is $140.22. SiteOne Landscape Supply, Inc. has a 1-year low of $114.60 and a 1-year high of $188.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The firm has a market cap of $6.70 billion, a PE ratio of 47.86 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $1.25 earnings per share. SiteOne Landscape Supply's revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Joseph Ketter sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,942 shares of the company's stock, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SITE. The Goldman Sachs Group began coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They set a "neutral" rating and a $158.00 target price for the company. Barclays increased their target price 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. Robert W. Baird increased their target price 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. Finally, StockNews.com upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $147.80.

About SiteOne Landscape Supply

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.