Anchor Capital Advisors LLC Invests $44.92 Million in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Anchor Capital Advisors purchased 600,494 Sunbelt Rentals shares worth approximately $44.9 million, representing about 0.15% of the company. Several other institutional investors also initiated positions during the second quarter.
• Sunbelt Rentals reported quarterly EPS of $0.74, narrowly beating estimates, on revenue of $2.75 billion. The company declared a quarterly dividend of $0.75, equivalent to a 4.4% annualized yield, though its payout ratio was elevated at 405.41%.
• Analyst views remain mixed, with a consensus “Hold” rating and an $83.67 price target versus the stock’s reported $68.69 price. Recent targets ranged from $80 to $96, while COO John Washburn sold 3,351 shares.

Anchor Capital Advisors LLC bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 600,494 shares of the company's stock, valued at approximately $44,923,000. Anchor Capital Advisors LLC owned approximately 0.15% of Sunbelt Rentals Holdings, Inc. Common Stock at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SUNB. First Eagle Investment Management LLC purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth $136,000. HB Wealth Management LLC acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth $218,000. Legacy Financial Advisors Inc. purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at $411,000. Syon Capital LLC purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at $536,000. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at about $652,000.

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

Shares of NYSE SUNB opened at $68.69 on Tuesday. Sunbelt Rentals Holdings, Inc. Common Stock has a 12-month low of $61.03 and a 12-month high of $86.68. The stock has a market cap of $28.16 billion and a PE ratio of 92.82. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.83 and a current ratio of 0.90. The company's 50-day simple moving average is $74.79.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last released its quarterly earnings data on Tuesday, June 23rd. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $2.75 billion during the quarter. During the same period last year, the firm posted $0.76 EPS. On average, sell-side 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 business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a $0.75 dividend. The ex-dividend date was Friday, July 10th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.4%. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio is 405.41%.

Analysts Set New Price Targets

A number of analysts have recently commented on SUNB shares. Wells Fargo & Company started coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, August 17th. They set an "overweight" rating and a $96.00 target price for the company. Weiss Ratings cut Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, September 1st. Royal Bank Of Canada upgraded Sunbelt Rentals Holdings, Inc. Common Stock from an "underperform" rating to a "sector perform" rating and set a $80.00 price objective for the company in a research note on Friday, June 19th. Sanford C. Bernstein reissued an "outperform" rating and set a $96.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, July 21st. Finally, Barclays increased their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, June 22nd. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.67.

Insider Activity at Sunbelt Rentals Holdings, Inc. Common Stock

In related news, COO John Washburn sold 3,351 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $70.00, for a total value of $234,570.00. Following the completion of the sale, the chief operating officer owned 72,394 shares of the company's stock, valued at approximately $5,067,580. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Sunbelt Rentals Holdings, Inc. Common Stock Company 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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