Asset Management One Co. Ltd. Buys New Position in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Asset Management One acquired 153,704 SUNB shares worth approximately $11.3 million in the third quarter, joining several major institutional investors that recently established positions.
• 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 stock opened at $83.62, near its 52-week high, while the company reduced its quarterly dividend to $0.30 per share. Analysts remain mixed, with a consensus “Hold” rating and an $87.33 target price.

Asset Management One Co. Ltd. acquired a new position 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. The firm acquired 153,704 shares of the company's stock, valued at approximately $11,253,000.

Several other large investors also recently bought and sold shares of SUNB. State Street Corp purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at $440,999,000. Cooke & Bieler LP purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter valued at about $153,350,000. Broad Run Investment Management LLC purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at about $51,353,000. Montrusco Bolton Investments Inc. acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter valued at about $51,832,000. Finally, Anchor Capital Advisors LLC acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at about $44,923,000.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

NYSE:SUNB opened at $83.62 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.94 and a quick ratio of 0.87. The firm has a market cap of $34.26 billion and a price-to-earnings ratio of 43.55. The company has a 50 day moving average price of $75.01 and a 200-day moving average price of $74.57. Sunbelt Rentals Holdings, Inc. Common Stock has a 1-year low of $61.03 and a 1-year high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last posted its earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.19. The firm had revenue of $3.12 billion during the quarter. The firm's revenue was up 11.2% compared to the same quarter last year. Equities research analysts forecast 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 company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend 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 currently 62.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SUNB. Sanford C. Bernstein reiterated an "outperform" rating and issued a $97.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, September 16th. The Goldman Sachs Group raised shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "neutral" rating to a "buy" rating and raised their price target for the stock from $78.00 to $93.00 in a research report on Wednesday, September 16th. JPMorgan Chase & Co. lifted their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the company an "underweight" rating in a research note on Thursday, September 10th. Wells Fargo & Company started coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, August 17th. They issued an "overweight" rating and a $96.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock has a consensus rating of "Hold" and a consensus target price of $87.33.

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.

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