Waverly Advisors LLC Makes New Investment in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Key Points

• Waverly Advisors acquired 14,675 shares of Sunbelt Rentals Holdings valued at approximately $1.1 million during the second quarter, while several other institutional investors also initiated positions.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $86.11; individual targets range from $79 to $96.
• Sunbelt reported quarterly EPS of $1.18, beating estimates of $0.99, while revenue rose 11.2% year over year to $3.12 billion. The company declared a quarterly dividend of $0.30 per share, implying a 1.7% yield.

Waverly Advisors LLC purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,675 shares of the company's stock, valued at approximately $1,098,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth $25,000. First Eagle Investment Management LLC acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at $136,000. HB Wealth Management LLC purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth about $218,000. Legacy Financial Advisors Inc. purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth about $411,000. Finally, Syon Capital LLC acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $536,000.

Insider Buying and Selling at Sunbelt Rentals Holdings, Inc. Common Stock

In related news, COO John Washburn sold 3,351 shares of the business's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $70.00, for a total transaction of $234,570.00. Following the completion of the transaction, the chief operating officer owned 72,394 shares of the company's stock, valued at approximately $5,067,580. The trade was 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 hyperlink. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

SUNB has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Royal Bank Of Canada upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from an "underperform" rating to a "sector perform" rating and set a $80.00 price target on the stock in a report on Friday, June 19th. JPMorgan Chase & Co. upped their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the company an "underweight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, June 30th. Finally, Sanford C. Bernstein reiterated 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. Eight equities research 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 MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock presently has a consensus rating of "Hold" and an average target price of $86.11.

Sunbelt Rentals Holdings, Inc. Common Stock Trading Down 0.1%

Shares of NYSE SUNB opened at $72.62 on Monday. The business's 50-day simple moving average is $74.70. Sunbelt Rentals Holdings, Inc. Common Stock has a one year low of $61.03 and a one year high of $86.68. The firm has a market cap of $29.76 billion and a price-to-earnings ratio of 98.13. 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 released its quarterly earnings data on Wednesday, September 9th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate 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. Research analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.22 EPS for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio (DPR) is currently 405.41%.

Sunbelt Rentals Holdings, Inc. Common Stock 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.