Fulcrum Asset Management LLP purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 43,477 shares of the company’s stock, valued at approximately $3,171,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of SUNB. Allspring Global Investments Holdings LLC grew its position in Sunbelt Rentals Holdings, Inc. Common Stock by 3.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,652 shares of the company’s stock worth $503,000 after purchasing an additional 232 shares during the last quarter. Candriam S.C.A. acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter valued at $1,497,000. Ethic Inc. raised its holdings in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 50.8% in the third quarter. Ethic Inc. now owns 43,412 shares of the company’s stock valued at $3,178,000 after buying an additional 14,628 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter valued at about $472,000. Finally, Parallel Advisors LLC raised its holdings in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 6.2% in the third quarter. Parallel Advisors LLC now owns 2,774 shares of the company’s stock valued at $203,000 after buying an additional 162 shares during the last quarter.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on SUNB. JPMorgan Chase & Co. raised their price target 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. 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 note on Thursday, September 17th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $97.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, September 16th. Wells Fargo & Company initiated coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, August 17th. They issued an “overweight” rating and a $96.00 target price on the stock. Finally, KeyCorp lifted 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, September 10th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.72.
Check Out Our Latest Analysis on Sunbelt Rentals Holdings, Inc. Common Stock
Sunbelt Rentals Holdings, Inc. Common Stock Trading Up 6.0%
Shares of Sunbelt Rentals Holdings, Inc. Common Stock stock opened at $81.64 on Tuesday. Sunbelt Rentals Holdings, Inc. Common Stock has a one year low of $61.03 and a one year high of $86.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 0.94. The firm has a fifty day moving average of $75.67 and a two-hundred day moving average of $74.77.
Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Get Free Report) last issued its earnings results 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 firm had revenue of $3.12 billion during the quarter. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were issued a dividend of $0.30 per share. This is a decrease from Sunbelt Rentals Holdings, Inc. Common Stock’s previous quarterly dividend of $0.75. This represents a $1.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock’s dividend payout ratio is currently 62.50%.
Sunbelt Rentals Holdings, Inc. Common Stock Profile
Sunbelt Rentals Holdings, Inc provides equipment rental and related services to customers in construction, industrial, commercial, infrastructure, government and other markets. Its offerings include general construction equipment and tools, as well as specialty solutions such as aerial work platforms, climate control, power generation, pumps, trench safety and scaffolding.
The company serves customers through a network of rental locations across the United States, Canada, the United Kingdom and Ireland.
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