Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Stock Short Interest Declines 58.0%

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 8,617,012 shares, a decrease of 58.0% from the August 31st total of 20,515,658 shares. Based on an average daily volume of 9,653,303 shares, the days-to-cover ratio is currently 0.9 days. Currently, 2.1% of the company’s shares are sold short.

Insider Activity at Sunbelt Rentals Holdings, Inc. Common Stock

In other news, COO John Washburn sold 3,351 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $70.00, for a total value of $234,570.00. Following the completion of the sale, the chief operating officer directly owned 72,394 shares of the company’s stock, valued at approximately $5,067,580. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Sunbelt Rentals Holdings, Inc. Common Stock

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $25,000. Allworth Financial LP bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $30,000. Integrated Wealth Concepts LLC bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $83,000. First Eagle Investment Management LLC purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth approximately $136,000. Finally, HB Wealth Management LLC purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth approximately $218,000.

Analyst Ratings Changes

A number of research firms recently issued reports on SUNB. Weiss Ratings downgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, June 30th. Citigroup decreased their target price on Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Bank of America raised their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the company an “underperform” rating in a research note on Thursday, September 10th. Finally, Morgan Stanley restated an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, September 21st. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Sunbelt Rentals Holdings, Inc. Common Stock presently has a consensus rating of “Hold” and a consensus price target of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Sunbelt Rentals Holdings, Inc. Common Stock stock opened at $73.80 on Wednesday. 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 market capitalization of $30.24 billion and a P/E ratio of 38.44. The stock’s 50 day moving average is $74.95 and its 200 day moving average is $74.05. Sunbelt Rentals Holdings, Inc. Common Stock has a twelve month low of $61.03 and a twelve month high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last announced its quarterly earnings data 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 company had revenue of $3.12 billion for the quarter. Sunbelt Rentals Holdings, Inc. Common Stock’s revenue was up 11.2% on a year-over-year basis. On average, equities research analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 earnings per share for the current fiscal 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. Investors of record on Friday, September 18th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is 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 dividend payout ratio (DPR) is presently 62.50%.

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

Sunbelt Rentals Holdings, Inc is an equipment rental company operating under the Sunbelt Rentals brand. It provides rental equipment and related services to construction, industrial, commercial, infrastructure, government, entertainment and residential customers.

The company’s rental fleet includes aerial work platforms, earthmoving and material-handling equipment, general construction tools, power-generation systems, climate-control equipment, pumps, trucks and trailers. Sunbelt Rentals also provides specialty services such as temporary power, heating and cooling, site support, fluid management and equipment delivery.

Sunbelt Rentals serves customers across the United States, Canada and the United Kingdom through a network of rental locations and service operations.