698,976 Shares in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB Purchased by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments initiated a position of 698,976 Sunbelt Rentals shares worth approximately $51.8 million, representing 0.17% of the company. Several other institutional investors also increased or initiated holdings during the third quarter.
• Sunbelt Rentals reported quarterly EPS of $1.18, beating estimates of $0.99, while revenue reached $3.12 billion, up 11.2% year over year.
• The stock recently traded at $77.57, while analysts maintain a consensus “Hold” rating with an average price target of $87.33. The company also reduced its quarterly dividend to $0.30 per share from $0.75.

Montrusco Bolton Investments Inc. 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 13F filing with the Securities and Exchange Commission (SEC). The fund bought 698,976 shares of the company's stock, valued at approximately $51,832,000. Montrusco Bolton Investments Inc. owned 0.17% of Sunbelt Rentals Holdings, Inc. Common Stock at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Burkett Asset Management Ltd boosted its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 16.5% during the 3rd quarter. Burkett Asset Management Ltd now owns 30,189 shares of the company's stock worth $2,210,000 after acquiring an additional 4,276 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter worth $232,000. Diversified Management Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter worth $2,190,000. Farther Finance Advisors LLC raised its holdings in Sunbelt Rentals Holdings, Inc. Common Stock by 14.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,631 shares of the company's stock worth $119,000 after purchasing an additional 208 shares during the period. Finally, MassMutual Private Wealth & Trust FSB bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter worth $31,000.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

Shares of Sunbelt Rentals Holdings, Inc. Common Stock stock traded up $2.01 during trading hours on Tuesday, hitting $77.57. The company's stock had a trading volume of 3,330,788 shares, compared to its average volume of 4,281,159. The company has a market cap of $31.79 billion and a PE ratio of 40.40. 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 business has a 50 day moving average price of $75.20 and a two-hundred day moving average price of $74.44. Sunbelt Rentals Holdings, Inc. Common Stock has a 12-month low of $61.03 and a 12-month high of $86.68.

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

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings downgraded Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "hold (c+)" rating in a research report on Monday, September 28th. Morgan Stanley restated an "overweight" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, June 30th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $80.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Thursday, September 17th. Finally, The Goldman Sachs Group upgraded Sunbelt Rentals Holdings, Inc. Common Stock from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $78.00 to $93.00 in a research note on Wednesday, September 16th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Profile

Sunbelt Rentals Holdings, Inc is an equipment rental company operating under the Sunbelt Rentals brand. It provides rental equipment and related services to construction, industrial, commercial, infrastructure, government, entertainment and residential customers.

The company's rental fleet includes aerial work platforms, earthmoving and material-handling equipment, general construction tools, power-generation systems, climate-control equipment, pumps, trucks and trailers. Sunbelt Rentals also provides specialty services such as temporary power, heating and cooling, site support, fluid management and equipment delivery.

Sunbelt Rentals serves customers across the United States, Canada and the United Kingdom through a network of rental locations and service operations.

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