21,049 Shares in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB Bought by Inspire Investing LLC

Key Points

• Inspire Investing purchased 21,049 SUNB shares worth approximately $1.54 million in the third quarter, while several other institutional investors also initiated or increased positions.
• Sunbelt Rentals reported quarterly EPS of $1.18, beating estimates of $0.99, while revenue rose 11.2% year over year to $3.12 billion. The stock opened at $78.61, with a market capitalization of $32.21 billion.
• The company cut its quarterly dividend to $0.30 per share from $0.75, resulting in a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $87.33.

Inspire Investing LLC bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,049 shares of the company's stock, valued at approximately $1,541,000.

A number of other hedge funds have also recently made changes to their positions in SUNB. State Street Corp purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth approximately $440,999,000. Metropolis Capital Ltd increased its holdings in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 2.9% in the 3rd quarter. Metropolis Capital Ltd now owns 3,644,072 shares of the company's stock worth $270,053,000 after purchasing an additional 101,593 shares in the last quarter. Cooke & Bieler LP bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter worth about $153,350,000. James Hambro & Partners LLP raised its holdings in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 1.7% during the third quarter. James Hambro & Partners LLP now owns 1,195,451 shares of the company's stock valued at $88,488,000 after purchasing an additional 20,294 shares during the last quarter. Finally, Broad Run Investment Management LLC purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at $51,353,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

NYSE:SUNB opened at $78.61 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 0.94. The stock has a 50-day simple moving average of $74.53 and a two-hundred day simple moving average of $75.24. The firm has a market capitalization of $32.21 billion and a PE ratio of 40.94. Sunbelt Rentals Holdings, Inc. Common Stock has a 52-week low of $61.03 and a 52-week high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.99 by $0.19. The company had revenue of $3.12 billion during the quarter. The business's quarterly revenue was up 11.2% on a year-over-year basis. Analysts forecast that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 EPS for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were paid a dividend of $0.30 per share. This is a drop from Sunbelt Rentals Holdings, Inc. Common Stock's previous quarterly dividend of $0.75. The ex-dividend date was Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SUNB. Bank of America increased their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the stock an "underperform" rating in a research note on Thursday, September 10th. Wells Fargo & Company started coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, August 17th. They issued an "overweight" rating and a $96.00 price objective on the stock. Weiss Ratings lowered shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "hold (c+)" rating in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "neutral" rating to a "buy" rating and increased their price target for the stock from $78.00 to $93.00 in a research report on Wednesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

Sunbelt Rentals Holdings, Inc is an equipment rental company that provides construction, industrial, commercial and specialty equipment to businesses, government agencies and consumers. Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling machinery, general tools, power-generation and climate-control equipment, pumps, trench-safety products, traffic and safety equipment, and temporary structures.

The company supports a range of applications, including construction and infrastructure projects, industrial maintenance, facility management, disaster response, utilities, entertainment and events.

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