Cooke & Bieler LP Purchases New Shares in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Cooke & Bieler LP acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,094,665 shares of the company’s stock, valued at approximately $153,350,000. Sunbelt Rentals Holdings, Inc. Common Stock makes up about 2.3% of Cooke & Bieler LP’s portfolio, making the stock its 7th largest holding. Cooke & Bieler LP owned approximately 0.51% of Sunbelt Rentals Holdings, Inc. Common Stock at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at $440,999,000. Metropolis Capital Ltd boosted its stake in Sunbelt Rentals Holdings, Inc. Common Stock by 2.9% in the 3rd quarter. Metropolis Capital Ltd now owns 3,644,072 shares of the company’s stock worth $270,053,000 after purchasing an additional 101,593 shares during the period. James Hambro & Partners LLP boosted its stake in Sunbelt Rentals Holdings, Inc. Common Stock by 1.7% in the 3rd quarter. James Hambro & Partners LLP now owns 1,195,451 shares of the company’s stock worth $88,488,000 after purchasing an additional 20,294 shares during the period. Montrusco Bolton Investments Inc. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter worth about $51,832,000. Finally, Broad Run Investment Management LLC bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $51,353,000.

Analysts Set New Price Targets

Several research firms have issued reports on SUNB. KeyCorp lifted their price target 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, September 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $80.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Thursday, September 17th. JPMorgan Chase & Co. increased their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the stock an “underweight” rating in a report on Thursday, September 10th. Finally, Bank of America increased their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the stock an “underperform” rating in a report on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

NYSE:SUNB opened at $78.56 on Thursday. The stock has a market capitalization of $32.19 billion and a PE ratio of 40.92. Sunbelt Rentals Holdings, Inc. Common Stock has a 1-year low of $61.03 and a 1-year high of $86.68. The firm has a fifty day simple moving average of $74.70 and a 200 day simple moving average of $75.02. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.19. The firm had revenue of $3.12 billion for the quarter. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research 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 company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 18th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. 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 currently 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.