Fulcrum Asset Management LLP Makes New Investment in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Fulcrum Asset Management initiated a position in Sunbelt Rentals Holdings, buying 43,477 shares worth approximately $3.17 million in the third quarter.
• Sunbelt reported quarterly earnings of $1.18 per share, beating the $0.99 consensus estimate; revenue rose 11.2% year over year to $3.12 billion.
• The company’s quarterly dividend fell from $0.75 to $0.30 per share. Analysts’ consensus rating was “Hold,” with an average price target of $85.72.

Fulcrum Asset Management LLP bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,477 shares of the company's stock, valued at approximately $3,171,000.

Several other large investors have also recently bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $25,000. Allworth Financial LP acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $30,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter valued at about $31,000. Versant Capital Management Inc increased its holdings in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 90.4% in the 3rd quarter. Versant Capital Management Inc now owns 916 shares of the company's stock valued at $67,000 after acquiring an additional 435 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter valued at about $73,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

NYSE SUNB opened at $81.64 on Tuesday. The company has a fifty day moving average of $75.67 and a two-hundred day moving average of $74.77. 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 1.08, a quick ratio of 0.87 and a current ratio of 0.94.

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 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 business's revenue was up 11.2% on a year-over-year basis. On average, equities analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 earnings per share for the current fiscal year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. This is a drop 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein reissued an "outperform" rating and set a $97.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, September 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $80.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Thursday, September 17th. Bank of America increased their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the company an "underperform" rating in a research note on Thursday, September 10th. Morgan Stanley reissued an "overweight" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, September 21st. Finally, 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 objective for the stock from $78.00 to $93.00 in a report on Wednesday, September 16th. Nine 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $85.72.

About Sunbelt Rentals Holdings, Inc. Common Stock

Sunbelt Rentals Holdings, Inc provides equipment rental and related services to customers in construction, industrial, commercial, infrastructure, government and other markets. Its offerings include general construction equipment and tools, as well as specialty solutions such as aerial work platforms, climate control, power generation, pumps, trench safety and scaffolding.

The company serves customers through a network of rental locations across the United States, Canada, the United Kingdom and Ireland.

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