Vaughan Nelson Investment Management L.P. Raises Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Vaughan Nelson Investment Management L.P. raised its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 100.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,922 shares of the industrial products company's stock after purchasing an additional 128,076 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.57% of SiteOne Landscape Supply worth $41,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its holdings in SiteOne Landscape Supply by 1.5% in the third quarter. Northern Trust Corp now owns 221,336 shares of the industrial products company's stock valued at $36,177,000 after acquiring an additional 3,301 shares during the period. Hsbc Holdings PLC acquired a new position in SiteOne Landscape Supply in the third quarter valued at approximately $1,826,000. Trexquant Investment LP acquired a new position in SiteOne Landscape Supply in the third quarter valued at approximately $4,060,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of SiteOne Landscape Supply in the third quarter valued at approximately $733,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of SiteOne Landscape Supply during the third quarter worth approximately $1,580,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SITE. Stifel Nicolaus cut SiteOne Landscape Supply from a "buy" rating to a "hold" rating and boosted their price target for the stock from $150.00 to $167.00 in a research report on Tuesday, December 19th. Barclays increased their target price on SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an "underweight" rating in a research note on Thursday, February 15th. Royal Bank of Canada increased their target price on SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a $120.00 price target (down previously from $123.00) on shares of SiteOne Landscape Supply in a report on Friday, December 8th. Finally, Robert W. Baird increased their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $172.88.

Insiders Place Their Bets

In other news, CEO Doug Black sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $153.29, for a total value of $1,532,900.00. Following the completion of the sale, the chief executive officer now directly owns 580,886 shares of the company's stock, valued at approximately $89,044,014.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Doug Black sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $153.29, for a total value of $1,532,900.00. Following the completion of the sale, the chief executive officer now directly owns 580,886 shares of the company's stock, valued at approximately $89,044,014.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John T. Guthrie sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,467 shares of the company's stock, valued at $2,784,060. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,000 shares of company stock valued at $3,836,400. 2.70% of the stock is owned by company insiders.

SiteOne Landscape Supply Stock Performance

NYSE:SITE traded up $2.72 during mid-day trading on Friday, reaching $169.72. 204,222 shares of the stock were exchanged, compared to its average volume of 322,984. The company has a 50 day simple moving average of $168.73 and a 200-day simple moving average of $156.18. The stock has a market capitalization of $7.67 billion, a P/E ratio of 44.90 and a beta of 1.54. The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply, Inc. has a 1 year low of $116.81 and a 1 year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.07. The firm had revenue of $965.00 million for the quarter, compared to the consensus estimate of $942.21 million. SiteOne Landscape Supply had a return on equity of 12.13% and a net margin of 4.03%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. Analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.2 earnings per share for the current fiscal year.

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.