983,207 Shares of Sunbelt Rentals Holdings, Inc. Common Stock $SUNB Bought by Markel Group Inc.

Key Points

• Markel Group acquired 983,207 Sunbelt Rentals shares in the third quarter, valued at about $72 million and representing a 0.24% stake. Other institutional investors also initiated or increased positions.
• Analyst views are mixed: nine rate the stock Buy, four Hold and two Sell, with an average rating of Hold and an average price target of $85.72.
• 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. Its quarterly dividend fell to $0.30 per share from $0.75.

Markel Group Inc. acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 983,207 shares of the company's stock, valued at approximately $71,981,000. Markel Group Inc. owned 0.24% of Sunbelt Rentals Holdings, Inc. Common Stock at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SUNB. Sumitomo Mitsui Trust Group Inc. acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter valued at about $92,910,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter worth approximately $228,000. Cidel Asset Management Inc. acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter worth approximately $271,000. Choreo LLC increased its holdings in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 5.8% during the 3rd quarter. Choreo LLC now owns 20,955 shares of the company's stock worth $1,541,000 after buying an additional 1,148 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter valued at approximately $1,856,000.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America upped their price objective 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. The Goldman Sachs Group raised Sunbelt Rentals Holdings, Inc. Common Stock from a "neutral" rating to a "buy" rating and raised their target price for the stock from $78.00 to $93.00 in a research note on Wednesday, September 16th. Royal Bank Of Canada reissued a "sector perform" rating and set a $80.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Thursday, September 17th. Morgan Stanley restated an "overweight" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, September 21st. Finally, KeyCorp upped their price target on Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, September 10th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Sunbelt Rentals Holdings, Inc. Common Stock has an average rating of "Hold" and an average price target of $85.72.

Sunbelt Rentals Holdings, Inc. Common Stock Trading Down 0.5%

Shares of SUNB stock opened at $83.35 on Wednesday. Sunbelt Rentals Holdings, Inc. Common Stock has a 1-year low of $61.03 and a 1-year high of $86.68. The firm has a market cap of $34.15 billion and a PE ratio of 43.41. The company has a 50-day moving average of $75.30 and a two-hundred day moving average of $74.68. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.94 and a quick ratio of 0.87.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.19. The company had revenue of $3.12 billion during the quarter. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts predict 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 given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 18th. This is a decrease from Sunbelt Rentals Holdings, Inc. Common Stock's previous quarterly dividend of $0.75. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio is 62.50%.

About Sunbelt Rentals Holdings, Inc. Common Stock

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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