Live Oak Private Wealth LLC Purchases New Stake in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Live Oak Private Wealth acquired 54,650 SUNB shares worth approximately $4.1 million in the second quarter, while Legacy Financial Advisors also initiated a $411,000 position.
• SUNB opened at $66.91, down 7.4%, with a market capitalization of $27.43 billion. The company slightly exceeded quarterly EPS expectations, reporting $0.74 versus the $0.73 consensus on $2.75 billion in revenue.
• Analysts maintain a consensus “Hold” rating with an $84 price target, while the company pays a $3.00 annualized dividend yielding about 4.5%.

Live Oak Private Wealth LLC acquired a new position 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 filing with the Securities & Exchange Commission. The firm acquired 54,650 shares of the company's stock, valued at approximately $4,088,000.

Separately, Legacy Financial Advisors Inc. purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at $411,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Down 7.4%

NYSE:SUNB opened at $66.91 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock's fifty day moving average price is $75.29. Sunbelt Rentals Holdings, Inc. Common Stock has a 52 week low of $61.03 and a 52 week high of $86.68. The firm has a market capitalization of $27.43 billion and a PE ratio of 90.42.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $2.75 billion during the quarter. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, sell-side analysts expect that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 EPS for the current fiscal year.

Sunbelt Rentals Holdings, Inc. Common Stock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Friday, July 10th. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio (DPR) is 405.41%.

Insiders Place Their Bets

In other Sunbelt Rentals Holdings, Inc. Common Stock news, COO John Washburn sold 3,351 shares of Sunbelt Rentals Holdings, Inc. Common Stock stock in a transaction dated Wednesday, July 8th. The stock was 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 directly owned 72,394 shares of the company's stock, valued at $5,067,580. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SUNB has been the topic of several analyst reports. Weiss Ratings upgraded Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. Royal Bank Of Canada raised shares of Sunbelt Rentals Holdings, Inc. Common Stock from an "underperform" rating to a "sector perform" rating and set a $80.00 target price on the stock in a research note on Friday, June 19th. Citigroup decreased their target price 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 reissued an "overweight" rating and issued a $85.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Wednesday, June 24th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Sunbelt Rentals Holdings, Inc. Common Stock presently has an average rating of "Hold" and a consensus price target of $84.00.

Sunbelt Rentals Holdings, Inc. Common Stock 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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