Giverny Capital Inc. Makes New Investment in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Giverny Capital initiated a position of 246,369 Sunbelt Rentals shares valued at approximately $18.4 million, while several other institutional investors also established new stakes during the second quarter.
• Analyst sentiment is mixed: eight analysts rate the stock a Buy, four a Hold and two a Sell. The consensus rating is Hold, with an average price target of $83.67 versus the reported market price of $68.69.
• Sunbelt Rentals slightly exceeded quarterly earnings expectations, reporting $0.74 in EPS on $2.75 billion in revenue, and maintains a quarterly dividend of $0.75 per share, equivalent to a 4.4% yield.

Giverny Capital Inc. bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 246,369 shares of the company's stock, valued at approximately $18,431,000. Giverny Capital Inc. owned 0.06% of Sunbelt Rentals Holdings, Inc. Common Stock as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. First Eagle Investment Management LLC purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth approximately $136,000. California State Teachers Retirement System purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $32,415,000. Crow s Nest Holdings LP bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $16,832,000. Highlander Partners L.P. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $11,222,000. Finally, HB Wealth Management LLC bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $218,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup dropped their target price on Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Weiss Ratings lowered Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, September 1st. Royal Bank Of Canada upgraded 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. KeyCorp reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, August 17th. They issued an "overweight" rating and a $96.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $83.67.

Sunbelt Rentals Holdings, Inc. Common Stock Trading Up 0.1%

NYSE SUNB opened at $68.69 on Monday. The business has a fifty day moving average price of $74.87. The stock has a market capitalization of $28.16 billion and a price-to-earnings ratio of 92.82. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Sunbelt Rentals Holdings, Inc. Common Stock has a 12-month low of $61.03 and a 12-month high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 23rd. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $2.75 billion for the quarter. During the same period in the previous year, the company posted $0.76 EPS. As a group, sell-side analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 earnings per share for the current fiscal year.

Sunbelt Rentals Holdings, Inc. Common Stock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a 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 is currently 405.41%.

Insider Buying and Selling

In other news, COO John Washburn sold 3,351 shares of the business's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $70.00, for a total transaction of $234,570.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

About Sunbelt Rentals Holdings, Inc. Common Stock

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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