Vontobel Holding Ltd. Buys 55,100 Shares of Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Vontobel Holding initiated a position in Sunbelt Rentals Holdings, buying 55,100 shares worth approximately $4.0 million in the third quarter. Several other institutional investors also increased or initiated holdings.
• Sunbelt reported quarterly EPS of $1.18, exceeding estimates of $0.99, while revenue rose 11.2% year over year to $3.12 billion.
• The company reduced its quarterly dividend from $0.75 to $0.30 per share, resulting in a $1.20 annualized payout and a 1.6% yield. Analysts’ consensus rating is “Hold,” with an average price target of $87.33.

Vontobel Holding Ltd. bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 55,100 shares of the company's stock, valued at approximately $4,034,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Waterhouse Canada Inc. grew its stake in Sunbelt Rentals Holdings, Inc. Common Stock by 20.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 86,541 shares of the company's stock worth $6,546,000 after acquiring an additional 14,733 shares during the period. Weaver Capital Management LLC acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter worth $205,000. Formuepleje A S acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter worth $2,968,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter worth $546,000. Finally, Montrusco Bolton Investments Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter valued at $51,832,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of SUNB opened at $75.96 on Monday. The business's 50 day moving average is $74.87 and its two-hundred day moving average is $74.75. 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 cap of $31.13 billion and a price-to-earnings ratio of 39.56. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.08.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.19. The company had revenue of $3.12 billion during the quarter. The company's revenue for the quarter was up 11.2% on a year-over-year basis. Analysts forecast that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 EPS for the current fiscal year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. This is a drop from Sunbelt Rentals Holdings, Inc. Common Stock's previous quarterly dividend of $0.75. Sunbelt Rentals Holdings, Inc. Common Stock's payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the company an "underweight" rating in a research note on Thursday, September 10th. Citigroup lowered their price target on Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Royal Bank Of Canada restated a "sector perform" rating and issued a $80.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Thursday, September 17th. Weiss Ratings downgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, September 28th. Finally, Wells Fargo & Company assumed coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, August 17th. They set an "overweight" rating and a $96.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Profile

Sunbelt Rentals Holdings, Inc is an equipment rental company that provides construction, industrial, commercial and specialty equipment to businesses, government agencies and consumers. Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling machinery, general tools, power-generation and climate-control equipment, pumps, trench-safety products, traffic and safety equipment, and temporary structures.

The company supports a range of applications, including construction and infrastructure projects, industrial maintenance, facility management, disaster response, utilities, entertainment and events.

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