Sequoia Financial Advisors LLC Takes Position in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

by · The Cerbat Gem

Sequoia Financial Advisors LLC bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 68,618 shares of the company’s stock, valued at approximately $5,133,000.

A number of other large investors have also recently made changes to their positions in SUNB. Parkside Financial Bank & Trust purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth about $25,000. Allworth Financial LP purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $30,000. Integrated Wealth Concepts LLC purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $83,000. First Eagle Investment Management LLC bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $136,000. Finally, HB Wealth Management LLC bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $218,000.

Insider Activity

In other news, COO John Washburn sold 3,351 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $70.00, for a total transaction of $234,570.00. Following the transaction, the chief operating officer owned 72,394 shares in the company, valued at approximately $5,067,580. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Sunbelt Rentals Holdings, Inc. Common Stock stock opened at $72.62 on Friday. The company’s 50 day moving average is $74.70. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 1.08. Sunbelt Rentals Holdings, Inc. Common Stock has a fifty-two week low of $61.03 and a fifty-two week high of $86.68. The company has a market capitalization of $29.76 billion and a P/E ratio of 98.13.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.19. The firm had revenue of $3.12 billion during the quarter. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts forecast that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.17 earnings per share for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock’s dividend payout ratio is currently 405.41%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada raised Sunbelt Rentals Holdings, Inc. Common Stock from an “underperform” rating to a “sector perform” rating and set a $80.00 price target for the company in a research note on Friday, June 19th. KeyCorp upped their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. 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. Sanford C. Bernstein reissued an “outperform” rating and set a $96.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, July 21st. Finally, Citigroup cut their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock currently has an average rating of “Hold” and a consensus price target of $86.11.

Read Our Latest Report on SUNB

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

(Free Report)

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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