Boston Financial Mangement LLC Decreases Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Boston Financial Mangement LLC lessened its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 2.1% in the second quarter, Holdings Channel reports. The fund owned 96,375 shares of the industrial products company’s stock after selling 2,079 shares during the quarter. Boston Financial Mangement LLC’s holdings in SiteOne Landscape Supply were worth $11,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in SiteOne Landscape Supply by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,158,085 shares of the industrial products company’s stock worth $725,794,000 after acquiring an additional 23,362 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of SiteOne Landscape Supply by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,141,624 shares of the industrial products company’s stock valued at $138,605,000 after buying an additional 28,265 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of SiteOne Landscape Supply by 47.8% during the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock valued at $172,211,000 after buying an additional 319,071 shares during the last quarter. Jackson Square Partners LLC boosted its stake in shares of SiteOne Landscape Supply by 25.6% during the 4th quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock valued at $131,588,000 after buying an additional 165,067 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of SiteOne Landscape Supply by 14.7% during the 4th quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock valued at $129,724,000 after buying an additional 102,207 shares during the last quarter.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 878 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $129.04, for a total value of $113,297.12. Following the sale, the director now directly owns 11,267 shares of the company’s stock, valued at $1,453,893.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SITE has been the subject of several research analyst reports. Loop Capital reduced their target price on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. UBS Group reduced their target price on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Barclays reduced their target price on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Jefferies Financial Group dropped their price target on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com lowered SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.33.

SiteOne Landscape Supply Stock Performance

NYSE SITE traded up $1.42 during trading hours on Friday, hitting $141.86. The company had a trading volume of 307,284 shares, compared to its average volume of 381,870. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $133.24 and a 200-day simple moving average of $150.74. The firm has a market cap of $6.41 billion, a P/E ratio of 41.12 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $2.71 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.19 EPS for the current 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.