Allianz Asset Management GmbH Purchases Shares of 295,170 Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Allianz Asset Management acquired 295,170 Sunbelt Rentals shares worth approximately $22.1 million, joining several other institutional investors that initiated positions during the second quarter.
• Sunbelt reported quarterly EPS of $0.74, slightly above analyst estimates, on revenue of $2.75 billion. The company also declared a quarterly dividend of $0.75, equivalent to a 4.4% annualized yield.
• SUNB shares opened at $68.69, while analysts maintained mixed views: the stock has an average “Hold” rating and an average price target of $83.67, with targets ranging from $71 to $96.

Allianz Asset Management GmbH bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 295,170 shares of the company's stock, valued at approximately $22,082,000. Allianz Asset Management GmbH owned approximately 0.07% of Sunbelt Rentals Holdings, Inc. Common Stock at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SUNB. California State Teachers Retirement System bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth $32,415,000. Giverny Capital Inc. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at $18,431,000. Nykredit A S purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at about $16,543,000. Crow s Nest Holdings LP purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at about $16,832,000. Finally, Highlander Partners L.P. bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $11,222,000.

Insider Buying and Selling

In related news, COO John Washburn sold 3,351 shares of Sunbelt Rentals Holdings, Inc. Common Stock stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $70.00, for a total value of $234,570.00. Following the sale, the chief operating officer owned 72,394 shares in the company, valued at $5,067,580. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by insiders.

Sunbelt Rentals Holdings, Inc. Common Stock Trading Up 0.1%

Shares of NYSE:SUNB opened at $68.69 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 0.95. The company's 50-day moving average price is $74.79. The company has a market capitalization of $28.16 billion and a P/E ratio of 92.82. 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 announced its quarterly earnings results on Tuesday, June 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $2.75 billion for the quarter. During the same quarter in the previous year, the company posted $0.76 EPS. As a group, research analysts forecast that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 EPS for the current fiscal year.

Sunbelt Rentals Holdings, Inc. Common Stock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $3.00 dividend on an annualized basis and a yield of 4.4%. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio (DPR) is presently 405.41%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SUNB shares. Barclays upped their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, June 22nd. JPMorgan Chase & Co. decreased their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $74.00 to $71.00 and set an "underweight" rating on the stock in a report on Wednesday, September 2nd. KeyCorp restated an "overweight" rating and issued a $85.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, June 24th. Wells Fargo & Company began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, August 17th. They issued an "overweight" rating and a $96.00 target price for the company. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $96.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, July 21st. Eight 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. According to data from MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock currently has an average rating of "Hold" and an average target price of $83.67.

Sunbelt Rentals Holdings, Inc. Common Stock Profile

Sunbelt Rentals Holdings, Inc is a major equipment rental company that provides a broad range of rental solutions to construction, industrial, municipal and specialty markets. The company's business centers on short- and long-term rental of equipment used for earthmoving, aerial access, material handling, power generation, climate control, pumps and general tools, supporting customers who need flexible access to capital-intensive assets without the expense of ownership.

In addition to physical equipment, Sunbelt Rentals offers complementary services designed to keep projects running efficiently.

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