NewEdge Wealth LLC Sells 2,318 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

NewEdge Wealth LLC cut its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,339 shares of the industrial products company’s stock after selling 2,318 shares during the period. NewEdge Wealth LLC’s holdings in SiteOne Landscape Supply were worth $2,548,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its holdings in SiteOne Landscape Supply by 90.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. boosted its holdings in SiteOne Landscape Supply by 287.7% during the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 187 shares during the period. Trust Co. of Vermont boosted its holdings in SiteOne Landscape Supply by 657.9% during the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 250 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in SiteOne Landscape Supply during the third quarter valued at about $71,000. Finally, CIBC Asset Management Inc bought a new stake in SiteOne Landscape Supply during the third quarter valued at about $200,000.

SiteOne Landscape Supply Stock Up 1.6 %

Shares of SITE opened at $126.41 on Friday. The company has a 50-day simple moving average of $136.91 and a 200-day simple moving average of $141.45. The firm has a market capitalization of $5.68 billion, a P/E ratio of 46.99 and a beta of 1.57. 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, Inc. has a 52 week low of $114.60 and a 52 week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (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%. On average, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on SITE. StockNews.com cut shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada upped 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. UBS Group decreased their price target 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. Robert W. Baird decreased their price target on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price objective for the company from $145.00 to $175.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $154.56.

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.