The Manufacturers Life Insurance Company purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 158,369 shares of the company’s stock, valued at approximately $11,553,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $5,133,000. Tidal Investments LLC acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at about $16,151,000. Integrated Wealth Concepts LLC bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at about $83,000. Allworth Financial LP bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at about $30,000. Finally, Broad Run Investment Management LLC acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $51,353,000.
Analyst Ratings Changes
Several brokerages recently issued reports on SUNB. Weiss Ratings lowered Sunbelt Rentals Holdings, Inc. Common Stock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 1st. Wells Fargo & Company initiated coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, August 17th. They issued an “overweight” rating and a $96.00 price objective for the company. Sanford C. Bernstein reissued an “outperform” rating and set a $96.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on 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. Finally, KeyCorp upped their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.11.
Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance
Shares of NYSE SUNB opened at $72.62 on Friday. Sunbelt Rentals Holdings, Inc. Common Stock has a 52-week low of $61.03 and a 52-week high of $86.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.83 and a current ratio of 0.94. The firm’s fifty day moving average is $74.70. The company has a market capitalization of $29.76 billion and a PE ratio of 98.13.
Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Get Free Report) last posted its 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 firm had revenue of $3.12 billion during the quarter. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.22 earnings per share for the current year.
Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be given a $0.30 dividend. The ex-dividend date is Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Sunbelt Rentals Holdings, Inc. Common Stock’s payout ratio is 405.41%.
Insiders Place Their Bets
In other Sunbelt Rentals Holdings, Inc. Common Stock news, COO John Washburn sold 3,351 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $70.00, for a total transaction of $234,570.00. Following the sale, the chief operating officer directly owned 72,394 shares of the company’s stock, valued at approximately $5,067,580. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.
About Sunbelt Rentals Holdings, Inc. Common Stock
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.
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