Sunbelt Rentals Holdings, Inc. Common Stock $SUNB Shares Newly Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,269,095 shares of the company’s stock, valued at approximately $92,910,000.

A number of other institutional investors also recently bought and sold shares of SUNB. Parkside Financial Bank & Trust purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $25,000. Allworth Financial LP bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth $30,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth $31,000. Versant Capital Management Inc raised its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 90.4% in the third quarter. Versant Capital Management Inc now owns 916 shares of the company’s stock worth $67,000 after purchasing an additional 435 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at $83,000.

Wall Street Analysts Forecast Growth

SUNB has been the topic of several recent analyst reports. The Goldman Sachs Group raised Sunbelt Rentals Holdings, Inc. Common Stock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $93.00 in a research report on Wednesday, September 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $80.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Thursday, September 17th. Weiss Ratings raised Sunbelt Rentals Holdings, Inc. Common Stock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the stock an “underweight” rating in a research report on Thursday, September 10th. Finally, Morgan Stanley restated an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, September 21st. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.72.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Up 0.3%

Shares of SUNB stock opened at $83.84 on Tuesday. Sunbelt Rentals Holdings, Inc. Common Stock has a 12 month low of $61.03 and a 12 month high of $86.68. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.08. The company has a 50 day simple moving average of $75.15 and a two-hundred day simple moving average of $74.62.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last released its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.19. The business had revenue of $3.12 billion during the quarter. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts expect 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. Stockholders of record on Friday, September 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 18th. This is a negative change from Sunbelt Rentals Holdings, Inc. Common Stock’s previous quarterly dividend of $0.75. Sunbelt Rentals Holdings, Inc. Common Stock’s payout ratio is presently 62.50%.

About Sunbelt Rentals Holdings, Inc. Common Stock

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.