Raiffeisen Bank International AG Invests $2.38 Million in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Raiffeisen Bank International purchased 31,792 Sunbelt Rentals shares worth approximately $2.38 million during the second quarter, joining several other institutions that initiated or increased positions.
• Sunbelt Rentals reported quarterly EPS of $0.74, slightly above the $0.73 consensus estimate, on $2.75 billion in revenue. The company also paid a quarterly dividend of $0.75, equivalent to a 4.4% annualized yield.
• Analyst sentiment is mixed but leans positive: eight analysts rate the stock Buy, four Hold and two Sell, producing a consensus Hold rating and an average price target of $83.67 versus a recent price of $68.69.

Raiffeisen Bank International AG purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 31,792 shares of the company's stock, valued at approximately $2,378,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Councilmark Asset Management LLC lifted its holdings in Sunbelt Rentals Holdings, Inc. Common Stock by 1.5% during the 2nd quarter. Councilmark Asset Management LLC now owns 10,020 shares of the company's stock worth $750,000 after purchasing an additional 150 shares in the last quarter. Legacy Financial Advisors Inc. bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $411,000. Live Oak Private Wealth LLC purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at $4,088,000. Nykredit A S purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $16,543,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $5,245,000.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

NYSE:SUNB opened at $68.69 on Friday. The stock has a 50 day moving average price of $74.87. The company has a market cap of $28.16 billion and a P/E ratio of 92.82. 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 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 (NYSE:SUNB - Get Free Report) last issued its earnings results on Tuesday, June 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, topping 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. As a group, sell-side analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 EPS 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 dividend on an annualized basis and a dividend yield of 4.4%. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio is 405.41%.

Insider Activity at Sunbelt Rentals Holdings, Inc. Common Stock

In related news, COO John Washburn sold 3,351 shares of the stock in a transaction 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 owned 72,394 shares of the company's stock, valued at approximately $5,067,580. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

SUNB has been the topic of several research analyst reports. KeyCorp restated an "overweight" rating and issued a $85.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, June 24th. Wells Fargo & Company started coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, August 17th. They issued an "overweight" rating and a $96.00 price target for the company. Barclays increased their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, June 22nd. Sanford C. Bernstein restated an "outperform" rating and set a $96.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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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