Price T Rowe Associates Inc. MD Reduces Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Price T Rowe Associates Inc. MD decreased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,419,534 shares of the industrial products company's stock after selling 267,318 shares during the quarter. Price T Rowe Associates Inc. MD owned about 12.01% of SiteOne Landscape Supply worth $714,133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SITE. Trust Co. of Vermont boosted its position in SiteOne Landscape Supply by 657.9% in the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock valued at $38,000 after buying an additional 250 shares during the last quarter. Tortoise Investment Management LLC lifted its stake 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 acquiring an additional 131 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of SiteOne Landscape Supply in the 4th quarter valued at $40,000. Brown Brothers Harriman & Co. increased its stake in shares of SiteOne Landscape Supply by 395.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock worth $45,000 after acquiring an additional 273 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of SiteOne Landscape Supply during the third quarter worth $71,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SITE. StockNews.com lowered SiteOne Landscape Supply from a "hold" rating to a "sell" rating in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft began coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They set a "hold" rating and a $135.00 price target for the company. Stifel Nicolaus lowered their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research report on Monday. UBS Group cut 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 report on Thursday, February 13th. Finally, Royal Bank of Canada increased their price target on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Hold" and an average price target of $148.30.

SiteOne Landscape Supply Price Performance

Shares of SITE traded down $1.43 during mid-day trading on Wednesday, hitting $112.68. 242,125 shares of the company were exchanged, compared to its average volume of 415,390. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 41.91 and a beta of 1.62. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $161.25. The company has a 50 day moving average of $119.81 and a 200-day moving average of $134.17. 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 released its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. During the same period in the previous year, the company posted ($0.43) earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

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.