NewEdge Wealth LLC Has $2.55 Million Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

NewEdge Wealth LLC lessened its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,339 shares of the industrial products company's stock after selling 2,318 shares during the quarter. NewEdge Wealth LLC's holdings in SiteOne Landscape Supply were worth $2,548,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its holdings in SiteOne Landscape Supply by 90.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. boosted its stake in SiteOne Landscape Supply by 287.7% during the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 187 shares during the period. Trust Co. of Vermont boosted its stake in SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 250 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in SiteOne Landscape Supply in the 3rd quarter valued at approximately $71,000. Finally, CIBC Asset Management Inc bought a new position in SiteOne Landscape Supply in the 3rd quarter worth approximately $200,000.

SiteOne Landscape Supply Price Performance

SITE traded down $0.89 during midday trading on Tuesday, reaching $123.62. 384,275 shares of the company's stock were exchanged, compared to its average volume of 367,962. SiteOne Landscape Supply, Inc. has a one year low of $114.60 and a one year high of $188.01. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 45.89 and a beta of 1.69. The business has a 50-day simple moving average of $136.53 and a two-hundred day simple moving average of $141.42. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

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SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. As a group, research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SITE. StockNews.com cut SiteOne Landscape Supply from a "hold" rating to a "sell" rating in a research report on Wednesday, February 26th. Royal Bank of Canada increased their price target on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Robert W. Baird dropped their price objective on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. UBS Group reduced their target price on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus restated a "hold" rating and set a $140.00 price target (down from $145.00) on shares of SiteOne Landscape Supply in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply has a consensus rating of "Hold" and an average target price of $154.56.

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.