TD Waterhouse Canada Inc. Takes $5.25 Million Position in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• TD Waterhouse Canada acquired 71,808 SUNB shares worth approximately $5.25 million during the second quarter, joining several other institutional investors that initiated or increased positions.
• Analyst sentiment is mixed: SUNB has a consensus “Hold” rating and an average price target of $83.67, while recent targets range from $71 to $90.
• SUNB reported quarterly EPS of $0.74, slightly above estimates, on $2.75 billion in revenue. The company also paid a $0.75 quarterly dividend, representing a 4.4% yield, though its payout ratio is elevated at 405.41%.

TD Waterhouse Canada Inc. purchased 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 disclosure with the Securities & Exchange Commission. The institutional investor purchased 71,808 shares of the company's stock, valued at approximately $5,245,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SUNB. Nykredit A S bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $16,543,000. Live Oak Private Wealth LLC purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth $4,088,000. Legacy Financial Advisors Inc. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $411,000. Finally, Councilmark Asset Management LLC boosted its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 1.5% during the second quarter. Councilmark Asset Management LLC now owns 10,020 shares of the company's stock valued at $750,000 after purchasing an additional 150 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SUNB. JPMorgan Chase & Co. decreased their target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $74.00 to $71.00 and set an "underweight" rating for the company in a research report on Wednesday, September 2nd. Weiss Ratings downgraded 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 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 for the company in a report on Friday, June 19th. Citigroup cut their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a "buy" rating for the company 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 investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $83.67.

Insiders Place Their Bets

In other Sunbelt Rentals Holdings, Inc. Common Stock news, COO John Washburn sold 3,351 shares of the firm's stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of SUNB opened at $68.69 on Monday. Sunbelt Rentals Holdings, Inc. Common Stock has a 1 year low of $61.03 and a 1 year high of $86.68. The firm has a 50-day moving average of $74.87. 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 has a market cap of $28.16 billion and a PE ratio of 92.82.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 23rd. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $2.75 billion during the quarter. During the same quarter in the prior year, the company earned $0.76 EPS. Analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 EPS for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued 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 payout ratio is presently 405.41%.

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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