Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) COO Sells 3,351 Shares of Stock

Key Points

• Sunbelt Rentals COO John Washburn sold 3,351 shares on July 8 at an average price of $70.00, totaling $234,570. After the sale, he still held 72,394 shares valued at about $5.07 million.
• The company reported slightly better-than-expected quarterly results, posting earnings of $0.74 per share versus analysts’ estimate of $0.73, on revenue of $2.75 billion.
• Sunbelt Rentals declared a quarterly dividend of $0.75 per share, payable July 24, implying a 4.0% annualized yield, while analyst sentiment remains mixed with an overall Hold rating and average price target of $81.25.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) COO John Washburn sold 3,351 shares of the 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 completion of the transaction, the chief operating officer owned 72,394 shares in the company, valued at $5,067,580. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

SUNB traded up $1.92 during trading on Friday, reaching $74.92. 3,293,526 shares of the company's stock were exchanged, compared to its average volume of 4,143,583. The firm has a fifty day moving average of $76.95. The firm has a market cap of $30.70 billion and a price-to-earnings ratio of 101.25. Sunbelt Rentals Holdings, Inc. Common Stock has a fifty-two week low of $61.03 and a fifty-two week high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates 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 business posted $0.76 earnings per share.

Sunbelt Rentals Holdings, Inc. Common Stock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, July 10th. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio is presently 405.41%.

Analyst Ratings Changes

SUNB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. Wall Street Zen upgraded Sunbelt Rentals Holdings, Inc. Common Stock to a "hold" rating in a report on Saturday, April 18th. Weiss Ratings raised Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Sunbelt Rentals Holdings, Inc. Common Stock from $75.00 to $74.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded Sunbelt Rentals Holdings, Inc. Common Stock to a "hold" rating in a report on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $81.25.

About Sunbelt Rentals Holdings, Inc. Common Stock

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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