Kayne Anderson Rudnick Investment Management LLC Has $417.89 Million Stock Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 0.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,441,941 shares of the industrial products company’s stock after selling 26,925 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 7.63% of SiteOne Landscape Supply worth $417,886,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new position in SiteOne Landscape Supply in the 1st quarter valued at approximately $29,000. Principal Securities Inc. acquired a new stake in SiteOne Landscape Supply during the fourth quarter worth $31,000. Whittier Trust Co. of Nevada Inc. bought a new stake in SiteOne Landscape Supply in the 2nd quarter valued at $27,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of SiteOne Landscape Supply by 588.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after buying an additional 247 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in shares of SiteOne Landscape Supply during the 1st quarter worth about $58,000.

SiteOne Landscape Supply Trading Down 2.8 %

Shares of SITE opened at $149.19 on Friday. The stock’s fifty day simple moving average is $138.72 and its 200-day simple moving average is $148.00. The firm has a market capitalization of $6.73 billion, a PE ratio of 43.24 and a beta of 1.53. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month 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.

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

Insider Activity at SiteOne Landscape Supply

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group decreased 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. Loop Capital cut their price objective on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research report on Thursday, June 13th. Robert W. Baird reduced their price objective on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, StockNews.com lowered SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $144.33.

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.