Crow s Nest Holdings LP Buys New Shares in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Crow’s Nest Holdings LP initiated a 225,000-share position in Sunbelt Rentals valued at approximately $16.8 million, representing 5.1% of the fund’s portfolio and 0.05% of the company. Several other institutional investors also opened new positions during the second quarter.
• Sunbelt Rentals reported quarterly earnings of $0.74 per share, narrowly beating estimates of $0.73, on revenue of $2.75 billion. The company paid a quarterly dividend of $0.75, equivalent to a 4.4% annualized yield, though its payout ratio was high at 405.41%.
• SUNB opened at $68.69, below its 50-day moving average of $74.87 and its 52-week high of $86.68. Analysts maintain a consensus “Hold” rating with an average price target of $83.67, while recent targets range from $80 to $96.

Crow s Nest Holdings LP bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 225,000 shares of the company's stock, valued at approximately $16,832,000. Sunbelt Rentals Holdings, Inc. Common Stock accounts for 5.1% of Crow s Nest Holdings LP's holdings, making the stock its 9th biggest holding. Crow s Nest Holdings LP owned about 0.05% of Sunbelt Rentals Holdings, Inc. Common Stock as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Highlander Partners L.P. purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at about $11,222,000. HB Wealth Management LLC purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $218,000. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $652,000. Blalock Williams LLC acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $781,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $2,378,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

SUNB opened at $68.69 on Monday. The business's 50 day simple moving average is $74.87. The firm has a market cap of $28.16 billion and a P/E ratio of 92.82. Sunbelt Rentals Holdings, Inc. Common Stock has a 1 year low of $61.03 and a 1 year high of $86.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.83 and a current ratio of 0.90.

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 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 last year, the business posted $0.76 earnings per share. On average, sell-side analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 earnings per share for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Dividend Announcement

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

Insider Activity at Sunbelt Rentals Holdings, Inc. Common Stock

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 transaction of $234,570.00. Following the transaction, the chief operating officer owned 72,394 shares in the company, valued at approximately $5,067,580. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SUNB shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, June 30th. KeyCorp reiterated an "overweight" rating and issued a $85.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Wednesday, June 24th. Royal Bank Of Canada raised shares of 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. 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. Finally, Wells Fargo & Company assumed coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, August 17th. They issued an "overweight" rating and a $96.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock presently has a consensus rating of "Hold" and an average price target of $83.67.

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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