Formuepleje A S Acquires New Position in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Formuepleje A S acquired 40,541 SUNB shares worth approximately $2.97 million in the third quarter, while several other institutional investors also initiated or increased positions.
• Sunbelt Rentals reported quarterly EPS of $1.18, beating estimates by $0.19, as revenue rose 11.2% year over year to $3.12 billion.
• The stock recently traded at $74.76, while analysts’ consensus target is $87.33 and the overall rating is “Hold.” The company also reduced its quarterly dividend to $0.30 from $0.75, implying a 1.6% annualized yield.

Formuepleje A S acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 40,541 shares of the company's stock, valued at approximately $2,968,000.

Several other large investors have also made changes to their positions in SUNB. First Citizens Bank & Trust Co. acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth $546,000. Montrusco Bolton Investments Inc. purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter worth $51,832,000. Burkett Asset Management Ltd lifted its position in Sunbelt Rentals Holdings, Inc. Common Stock by 16.5% during the third quarter. Burkett Asset Management Ltd now owns 30,189 shares of the company's stock valued at $2,210,000 after purchasing an additional 4,276 shares during the period. Wedmont Private Capital acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter valued at $232,000. Finally, Diversified Management Inc. acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter valued at $2,190,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of NYSE:SUNB traded down $0.85 during trading on Thursday, hitting $74.76. 1,051,351 shares of the stock traded hands, compared to its average volume of 4,260,106. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.08. The company has a market cap of $30.63 billion and a price-to-earnings ratio of 38.88. The company has a fifty day moving average price of $75.06 and a two-hundred day moving average price of $74.59. 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 announced its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.19. The firm had revenue of $3.12 billion for the quarter. The company's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts predict 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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. This is a decrease from Sunbelt Rentals Holdings, Inc. Common Stock's previous quarterly dividend of $0.75. The ex-dividend date was Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock's payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, September 21st. Wells Fargo & Company began 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. Sanford C. Bernstein reissued an "outperform" rating and issued a $97.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Wednesday, September 16th. JPMorgan Chase & Co. boosted their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the company an "underweight" rating in a report on Thursday, September 10th. Finally, Barclays upped their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, June 22nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock presently has a consensus rating of "Hold" and a consensus target price of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Profile

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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