Nykredit A S Invests $14.94 Million in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Nykredit A/S acquired 203,643 SUNB shares during the second quarter, valued at approximately $14.94 million. Several other institutional investors also initiated positions.
• Sunbelt Rentals reported quarterly earnings of $1.18 per share, beating estimates of $0.99, while revenue rose 11.2% year over year to $3.12 billion.
• The stock opened at $73.70, below analysts’ consensus price target of $87.33. Analyst sentiment is mixed, with a consensus rating of “Hold,” despite multiple recent price-target increases and a quarterly dividend of $0.30 per share.

Nykredit A S acquired 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 filing with the Securities & Exchange Commission. The firm acquired 203,643 shares of the company's stock, valued at approximately $14,936,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at $25,000. First Eagle Investment Management LLC acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $136,000. HB Wealth Management LLC acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $218,000. Legacy Financial Advisors Inc. bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $411,000. Finally, Syon Capital LLC acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at about $536,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Down 0.4%

SUNB opened at $73.70 on Friday. The firm has a fifty day simple moving average of $74.78. The stock has a market capitalization of $30.20 billion and a price-to-earnings ratio of 38.39. 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 debt-to-equity ratio of 1.08, a current ratio of 0.94 and a quick ratio of 0.87.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.19. The business had revenue of $3.12 billion for the quarter. The company's quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.22 earnings per share for the current fiscal year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio (DPR) is currently 156.25%.

Insider Buying and Selling

In related news, COO John Washburn sold 3,351 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $70.00, for a total transaction of $234,570.00. Following the transaction, the chief operating officer directly owned 72,394 shares of the company's stock, 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 the SEC website. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SUNB. Barclays lifted their price objective on shares of 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. Wells Fargo & Company assumed coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, August 17th. They issued an "overweight" rating and a $96.00 price target on the stock. KeyCorp increased their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, September 10th. Weiss Ratings upgraded Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, September 14th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $80.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Thursday. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

Sunbelt Rentals Holdings, Inc is an equipment rental company that provides tools, machinery and related services to construction, industrial, commercial, infrastructure, government and residential customers. Its rental fleet includes aerial work platforms, earthmoving and material-handling equipment, general tools, power-generation equipment, pumps, heating and cooling systems, and temporary structures.

The company also provides specialized solutions such as trench safety, climate control, event equipment, traffic management and temporary power.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.