Vaughan Nelson Investment Management L.P. Sells 1,720 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Vaughan Nelson Investment Management L.P. trimmed its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,745 shares of the industrial products company’s stock after selling 1,720 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.16% of SiteOne Landscape Supply worth $8,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SITE. Tortoise Investment Management LLC lifted its holdings in SiteOne Landscape Supply by 78.9% during the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 131 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of SiteOne Landscape Supply in the fourth quarter valued at about $40,000. Brown Brothers Harriman & Co. lifted its stake in shares of SiteOne Landscape Supply by 395.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock worth $45,000 after buying an additional 273 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company’s stock worth $59,000 after buying an additional 95 shares during the period. Finally, State of Wyoming boosted its holdings in shares of SiteOne Landscape Supply by 6.2% during the 4th quarter. State of Wyoming now owns 1,389 shares of the industrial products company’s stock worth $183,000 after buying an additional 81 shares during the period.

SiteOne Landscape Supply Trading Down 3.8%

SITE opened at $118.58 on Monday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 44.08 and a beta of 1.56. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.75. The company has a 50-day simple moving average of $117.90 and a 200 day simple moving average of $128.27.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.11). The firm had revenue of $939.40 million for the quarter, compared to the consensus estimate of $933.90 million. SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted ($0.43) EPS. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SITE shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SiteOne Landscape Supply in a report on Tuesday, April 1st. They issued a “hold” rating and a $135.00 price target on the stock. Royal Bank of Canada reduced their price target on SiteOne Landscape Supply from $136.00 to $130.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus decreased their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating on the stock in a report on Monday, April 28th. Wall Street Zen upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, Truist Financial reduced their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $145.70.

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.