Pictet Asset Management Holding SA Sells 148,073 Shares of Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Pictet Asset Management Holding SA lessened its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) by 47.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 166,154 shares of the company’s stock after selling 148,073 shares during the period. Pictet Asset Management Holding SA’s holdings in Sunbelt Rentals Holdings, Inc. Common Stock were worth $12,174,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $440,999,000. Metropolis Capital Ltd grew its position in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 2.9% during the 3rd quarter. Metropolis Capital Ltd now owns 3,644,072 shares of the company’s stock valued at $270,053,000 after acquiring an additional 101,593 shares during the period. Cooke & Bieler LP purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter worth approximately $153,350,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 3rd quarter worth approximately $92,910,000. Finally, James Hambro & Partners LLP increased its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 1.7% during 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 last quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, August 17th. They issued an “overweight” rating and a $96.00 price target on the stock. KeyCorp increased 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 report on Thursday, September 10th. The Goldman Sachs Group raised Sunbelt Rentals Holdings, Inc. Common Stock from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $93.00 in a research report on Wednesday, September 16th. Morgan Stanley reissued an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, September 21st. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $97.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Wednesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.72.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

NYSE SUNB opened at $81.62 on Friday. The company has a market cap of $33.44 billion and a PE ratio of 42.51. 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 quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.08. The firm’s 50-day simple moving average is $76.47 and its two-hundred day simple moving average is $74.90.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last issued its earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.19. The business had revenue of $3.12 billion for the quarter. Sunbelt Rentals Holdings, Inc. Common Stock’s revenue for the quarter was up 11.2% on a year-over-year basis. Research analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 earnings per share for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, September 18th. This is a decrease from Sunbelt Rentals Holdings, Inc. Common Stock’s previous quarterly dividend of $0.75. Sunbelt Rentals Holdings, Inc. Common Stock’s dividend payout ratio is currently 62.50%.

About Sunbelt Rentals Holdings, Inc. Common Stock

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.