Diversified Management Inc. Purchases 29,916 Shares of Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Diversified Management Inc. purchased 29,916 SUNB shares during the third quarter, valued at approximately $2.19 million. Other institutional investors also increased or initiated positions.
• Analyst sentiment is mixed but leans positive, with eight Buy, five Hold, and two Sell ratings. The consensus rating is Hold, with an average price target of $87.33 versus the reported share price of $75.13.
• Sunbelt Rentals exceeded quarterly earnings expectations, reporting $1.18 in EPS versus the $0.99 consensus and $3.12 billion in revenue, up 11.2% year over year. The company reduced its quarterly dividend to $0.30 per share from $0.75.

Diversified Management Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 29,916 shares of the company's stock, valued at approximately $2,190,000.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 14.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,631 shares of the company's stock worth $119,000 after buying an additional 208 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter valued at about $31,000. Versant Capital Management Inc raised its position in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 90.4% during the 3rd quarter. Versant Capital Management Inc now owns 916 shares of the company's stock valued at $67,000 after buying an additional 435 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at about $685,000. Finally, Envestnet Asset Management Inc. purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $26,298,000.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. KeyCorp boosted their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, September 10th. Wells Fargo & Company began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, August 17th. They set an "overweight" rating and a $96.00 target price on the stock. Morgan Stanley restated an "overweight" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, September 21st. JPMorgan Chase & Co. raised their price target on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the stock an "underweight" rating in a research report on Thursday, September 10th. Finally, Bank of America lifted their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the stock an "underperform" rating in a research note on Thursday, September 10th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Trading Up 0.5%

Shares of SUNB opened at $75.13 on Friday. 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 50-day moving average of $75.13 and a 200 day moving average of $74.34. The firm has a market capitalization of $30.79 billion and a price-to-earnings ratio of 39.13. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.94 and a quick ratio of 0.87.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.19. The company had revenue of $3.12 billion during the quarter. The business's quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date 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 (DPR) is 62.50%.

About Sunbelt Rentals Holdings, Inc. Common Stock

Sunbelt Rentals Holdings, Inc is an equipment rental company operating under the Sunbelt Rentals brand. It provides rental equipment and related services to construction, industrial, commercial, infrastructure, government, entertainment and residential customers.

The company's rental fleet includes aerial work platforms, earthmoving and material-handling equipment, general construction tools, power-generation systems, climate-control equipment, pumps, trucks and trailers. Sunbelt Rentals also provides specialty services such as temporary power, heating and cooling, site support, fluid management and equipment delivery.

Sunbelt Rentals serves customers across the United States, Canada and the United Kingdom through a network of rental locations and service operations.

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