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

Vaughan Nelson Investment Management L.P. lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 62.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,345 shares of the industrial products company's stock after selling 123,869 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.16% of SiteOne Landscape Supply worth $11,220,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SITE. Cetera Advisors LLC acquired a new stake in SiteOne Landscape Supply in the 1st quarter worth approximately $708,000. Swedbank AB purchased a new stake in shares of SiteOne Landscape Supply during the first quarter valued at $16,757,000. Cetera Investment Advisers grew its holdings in shares of SiteOne Landscape Supply by 143.8% during the first quarter. Cetera Investment Advisers now owns 12,281 shares of the industrial products company's stock valued at $2,144,000 after buying an additional 7,244 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of SiteOne Landscape Supply by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,026 shares of the industrial products company's stock valued at $1,217,000 after acquiring an additional 447 shares during the period. Finally, Virtu Financial LLC purchased a new position in SiteOne Landscape Supply in the 1st quarter worth $812,000.

SiteOne Landscape Supply Price Performance

Shares of NYSE:SITE traded down $0.55 during midday trading on Monday, reaching $140.05. 251,759 shares of the company's stock traded hands, compared to its average volume of 363,717. The company has a fifty day simple moving average of $145.12 and a two-hundred day simple moving average of $140.83. 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 $6.32 billion, a P/E 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.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 9.21% and a net margin of 3.16%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company's quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered SiteOne Landscape Supply from a "buy" rating to a "hold" rating and set a $150.00 price objective on the stock. in a report on Thursday, August 1st. The Goldman Sachs Group began 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 objective on the stock. Royal Bank of Canada cut their price target on SiteOne Landscape Supply from $133.00 to $132.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 1st. Truist Financial boosted their price objective on SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, StockNews.com raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. 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 company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $147.80.

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.