TIAA CREF Investment Management LLC reduced its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 29.5% during the first quarter, Holdings Channel reports. The fund owned 31,072 shares of the industrial products company’s stock after selling 12,983 shares during the period. TIAA CREF Investment Management LLC’s holdings in SiteOne Landscape Supply were worth $1,504,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of SiteOne Landscape Supply by 596.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,450,224 shares of the industrial products company’s stock valued at $70,206,000 after buying an additional 1,241,912 shares during the last quarter. FMR LLC boosted its stake in shares of SiteOne Landscape Supply by 1,029.5% in the first quarter. FMR LLC now owns 519,548 shares of the industrial products company’s stock valued at $25,151,000 after buying an additional 473,548 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of SiteOne Landscape Supply by 10.6% in the first quarter. William Blair Investment Management LLC now owns 1,550,697 shares of the industrial products company’s stock valued at $75,069,000 after buying an additional 148,439 shares during the last quarter. Granite Investment Partners LLC boosted its stake in shares of SiteOne Landscape Supply by 74.1% in the first quarter. Granite Investment Partners LLC now owns 313,365 shares of the industrial products company’s stock valued at $15,170,000 after buying an additional 133,398 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of SiteOne Landscape Supply by 154.2% in the first quarter. Bank of New York Mellon Corp now owns 192,159 shares of the industrial products company’s stock valued at $9,303,000 after buying an additional 116,564 shares during the last quarter. 89.72% of the stock is owned by institutional investors.

Shares of SiteOne Landscape Supply, Inc. (SITE) traded down 0.18% during midday trading on Friday, hitting $50.88. The company had a trading volume of 730,130 shares. The firm’s 50 day moving average is $52.35 and its 200 day moving average is $47.32. SiteOne Landscape Supply, Inc. has a 52 week low of $26.60 and a 52 week high of $53.87. The company has a market capitalization of $2.02 billion, a P/E ratio of 47.55 and a beta of 1.87.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.04. The company had revenue of $608.60 million during the quarter, compared to analysts’ expectations of $607.94 million. SiteOne Landscape Supply had a return on equity of 27.37% and a net margin of 2.46%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($3.18) EPS. Equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post $1.37 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “TIAA CREF Investment Management LLC Sells 12,983 Shares of SiteOne Landscape Supply, Inc. (SITE)” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.watchlistnews.com/tiaa-cref-investment-management-llc-sells-12983-shares-of-siteone-landscape-supply-inc-site/1477876.html.

SITE has been the subject of several recent research reports. Zacks Investment Research raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Wednesday, April 19th. Johnson Rice initiated coverage on SiteOne Landscape Supply in a research note on Monday, May 15th. They issued an “accumulate” rating for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 price target on shares of SiteOne Landscape Supply in a research note on Monday, May 8th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of SiteOne Landscape Supply in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. SiteOne Landscape Supply has an average rating of “Hold” and an average target price of $54.50.

In related news, CEO Doug Black acquired 6,200 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were purchased at an average price of $50.76 per share, for a total transaction of $314,712.00. Following the completion of the acquisition, the chief executive officer now owns 400,743 shares in the company, valued at $20,341,714.68. The purchase was disclosed in a filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by insiders.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

Want to see what other hedge funds are holding SITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiteOne Landscape Supply, Inc. (NYSE:SITE).

Institutional Ownership by Quarter for SiteOne Landscape Supply (NYSE:SITE)

Receive News & Ratings for SiteOne Landscape Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiteOne Landscape Supply Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.