25,611 Sunbelt Rentals Holdings, Inc. Common Stock $SUNB Shares Purchased by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments nearly doubled its SUNB stake in the third quarter, acquiring 25,611 additional shares and bringing its holdings to 52,798 shares valued at approximately $3.9 million.
• Institutional interest increased, with several firms initiating or expanding positions. Analysts remain mixed, resulting in a consensus “Hold” rating and an average price target of $87.33.
• Sunbelt Rentals reported quarterly EPS of $1.18, exceeding estimates of $0.99, while revenue rose 11.2% year over year to $3.12 billion. The company reduced its quarterly dividend to $0.30 from $0.75.

Louisbourg Investments Inc. lifted its stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) by 94.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,798 shares of the company's stock after acquiring an additional 25,611 shares during the quarter. Louisbourg Investments Inc.'s holdings in Sunbelt Rentals Holdings, Inc. Common Stock were worth $3,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $440,999,000. Metropolis Capital Ltd lifted its position in Sunbelt Rentals Holdings, Inc. Common Stock by 2.9% during the third quarter. Metropolis Capital Ltd now owns 3,644,072 shares of the company's stock valued at $270,053,000 after purchasing an additional 101,593 shares during the period. James Hambro & Partners LLP boosted its holdings in Sunbelt Rentals Holdings, Inc. Common Stock by 1.7% in the third quarter. James Hambro & Partners LLP now owns 1,195,451 shares of the company's stock worth $88,488,000 after purchasing an additional 20,294 shares during the last quarter. Broad Run Investment Management LLC purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $51,353,000. Finally, Montrusco Bolton Investments Inc. purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth approximately $51,832,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SUNB. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $80.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Thursday, September 17th. Bank of America increased their price target on Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the company an "underperform" rating in a report on Thursday, September 10th. Morgan Stanley restated an "overweight" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, September 21st. Sanford C. Bernstein restated an "outperform" rating and issued a $97.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Wednesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. Eight 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. According to MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock currently has a consensus rating of "Hold" and a consensus target price of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

Shares of NYSE:SUNB opened at $77.02 on Wednesday. The firm's 50 day moving average price is $74.74 and its 200-day moving average price is $74.91. Sunbelt Rentals Holdings, Inc. Common Stock has a twelve month low of $61.03 and a twelve month high of $86.68. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $31.56 billion and a PE ratio of 40.11.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.19. The business had revenue of $3.12 billion during the quarter. The company's quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were given a $0.30 dividend. The ex-dividend date was Friday, September 18th. This is a drop from Sunbelt Rentals Holdings, Inc. Common Stock's previous quarterly dividend of $0.75. This represents a $1.20 annualized dividend and a yield of 1.6%. Sunbelt Rentals Holdings, Inc. Common Stock's payout ratio is 62.50%.

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.

Want to see what other hedge funds are holding SUNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.