Allspring Global Investments Holdings LLC Sells 17,060 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Allspring Global Investments Holdings LLC lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 394,728 shares of the industrial products company's stock after selling 17,060 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.87% of SiteOne Landscape Supply worth $59,568,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of SiteOne Landscape Supply by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,158,085 shares of the industrial products company's stock worth $725,794,000 after purchasing an additional 23,362 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of SiteOne Landscape Supply by 2.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,141,624 shares of the industrial products company's stock worth $138,605,000 after acquiring an additional 28,265 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of SiteOne Landscape Supply by 47.8% in the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company's stock valued at $172,211,000 after buying an additional 319,071 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SiteOne Landscape Supply by 10.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 568,349 shares of the industrial products company's stock valued at $69,007,000 after acquiring an additional 53,131 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in SiteOne Landscape Supply by 49.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company's stock worth $58,226,000 after buying an additional 158,350 shares during the period.

Insiders Place Their Bets

In related news, Director Fred M. Diaz sold 878 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $129.04, for a total transaction of $113,297.12. Following the completion of the transaction, the director now owns 11,267 shares in the company, valued at approximately $1,453,893.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company's stock.

SiteOne Landscape Supply Price Performance

Shares of NYSE:SITE traded down $2.87 during midday trading on Tuesday, reaching $139.20. 242,029 shares of the company's stock were exchanged, compared to its average volume of 362,279. SiteOne Landscape Supply, Inc. has a 12 month low of $114.60 and a 12 month high of $188.01. The firm has a market capitalization of $6.28 billion, a PE ratio of 42.16 and a beta of 1.53. The company's 50 day simple moving average is $142.55 and its two-hundred day simple moving average is $143.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 2.47.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.13. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. SiteOne Landscape Supply's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. Equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

SITE has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on SiteOne Landscape Supply from $160.00 to $125.00 and set a "hold" rating on the stock in a report on Thursday, July 11th. Robert W. Baird raised their price target on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Stifel Nicolaus downgraded 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 report on Thursday, August 1st. Barclays dropped their target price on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an "underweight" rating for the company in a report on Friday, July 12th. Finally, StockNews.com lowered shares of SiteOne Landscape Supply from a "hold" rating to a "sell" rating in a report on Saturday, August 10th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Hold" and an average target price of $147.20.

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.