Broad Run Investment Management LLC Buys Shares of 702,078 Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Broad Run Investment Management acquired 702,078 SUNB shares valued at approximately $51.4 million, making Sunbelt Rentals its third-largest holding and representing 7.9% of its portfolio.
• Analyst sentiment is mixed: eight analysts rate SUNB a Buy, four recommend Hold and two recommend Sell, resulting in a consensus Hold rating with an average price target of $83.67.
• SUNB traded at $69.43, while the company reported quarterly EPS of $0.74, slightly above estimates, and maintained a quarterly dividend of $0.75, equivalent to a 4.3% annualized yield.

Broad Run Investment Management LLC bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 702,078 shares of the company's stock, valued at approximately $51,353,000. Sunbelt Rentals Holdings, Inc. Common Stock accounts for approximately 7.9% of Broad Run Investment Management LLC's investment portfolio, making the stock its 3rd largest holding. Broad Run Investment Management LLC owned 0.17% of Sunbelt Rentals Holdings, Inc. Common Stock as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SUNB. Parkside Financial Bank & Trust acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at about $25,000. First Eagle Investment Management LLC acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $136,000. HB Wealth Management LLC acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $218,000. Legacy Financial Advisors Inc. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $411,000. Finally, Syon Capital LLC bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $536,000.

Insider Transactions 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 transaction, the chief operating officer directly owned 72,394 shares of the company's stock, valued at $5,067,580. This represents a 4.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SUNB has been the subject of a number of research reports. Barclays lifted 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 research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. JPMorgan Chase & Co. reduced their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $74.00 to $71.00 and set an "underweight" rating for the company in a research report on Wednesday, September 2nd. Wells Fargo & Company initiated coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, August 17th. They set an "overweight" rating and a $96.00 price objective for the company. Finally, KeyCorp reaffirmed 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. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $83.67.

Sunbelt Rentals Holdings, Inc. Common Stock Trading Up 1.2%

NYSE:SUNB traded up $0.84 during mid-day trading on Tuesday, hitting $69.43. The stock had a trading volume of 10,677,149 shares, compared to its average volume of 4,148,680. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.83. The stock's 50 day moving average is $74.79. The stock has a market capitalization of $28.46 billion and a PE ratio of 93.82. Sunbelt Rentals Holdings, Inc. Common Stock has a 52 week low of $61.03 and a 52 week high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last posted its earnings results on Tuesday, June 23rd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $2.75 billion during the quarter. During the same period last year, the business posted $0.76 EPS. As a group, equities research analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 earnings per share for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, July 10th. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio is 405.41%.

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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