Highlander Partners L.P. Acquires New Position in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Highlander Partners acquired 150,000 Sunbelt Rentals shares worth approximately $11.2 million, making SUNB its 10th-largest holding and 3.8% of its portfolio. Several other institutional investors also initiated or increased positions.
• Sunbelt Rentals reported quarterly earnings of $0.74 per share, slightly exceeding the $0.73 consensus estimate, on $2.75 billion in revenue. The company maintains a $0.75 quarterly dividend, equivalent to a 4.4% yield, though its payout ratio is elevated at 405.41%.
• Analyst sentiment is mixed, with ratings ranging from underweight to overweight; the consensus rating is Hold with an average price target of $83.67, above the reported share price of $68.69.

Highlander Partners L.P. acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 150,000 shares of the company's stock, valued at approximately $11,222,000. Sunbelt Rentals Holdings, Inc. Common Stock comprises 3.8% of Highlander Partners L.P.'s investment portfolio, making the stock its 10th largest holding.

A number of other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at approximately $218,000. Legacy Financial Advisors Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at approximately $411,000. Syon Capital LLC purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at approximately $536,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $652,000. Finally, Councilmark Asset Management LLC grew its position in Sunbelt Rentals Holdings, Inc. Common Stock by 1.5% in the second quarter. Councilmark Asset Management LLC now owns 10,020 shares of the company's stock worth $750,000 after acquiring an additional 150 shares during the period.

Insider Buying and Selling 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 that occurred on Wednesday, July 8th. The shares were sold at an average price of $70.00, for a total value of $234,570.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

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

SUNB opened at $68.69 on Monday. The business's 50-day moving average price is $74.87. Sunbelt Rentals Holdings, Inc. Common Stock has a 12-month low of $61.03 and a 12-month high of $86.68. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 0.95. The firm has a market cap of $28.16 billion and a price-to-earnings ratio of 92.82.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last released its earnings results on Tuesday, June 23rd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $2.75 billion during the quarter. During the same period in the prior year, the company posted $0.76 earnings per share. On average, research analysts forecast that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 earnings per share for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $74.00 to $71.00 and set an "underweight" rating for the company in a research note on Wednesday, September 2nd. Weiss Ratings cut Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, September 1st. Barclays raised 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 research report on Monday, June 22nd. Citigroup reduced their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $85.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, June 24th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock presently has an average rating of "Hold" and a consensus target price 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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