Markel Group Inc. Makes New Investment in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Markel Group Inc. acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 983,207 shares of the company’s stock, valued at approximately $71,981,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at about $440,999,000. Metropolis Capital Ltd lifted its position in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 2.9% during the third 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 in the last quarter. Cooke & Bieler LP acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter worth about $153,350,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter worth about $92,910,000. Finally, James Hambro & Partners LLP boosted its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 1.7% in the third quarter. James Hambro & Partners LLP now owns 1,195,451 shares of the company’s stock valued at $88,488,000 after purchasing an additional 20,294 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the company an “underweight” rating in a report on Thursday, September 10th. Morgan Stanley reiterated an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, September 21st. Sanford C. Bernstein reissued an “outperform” rating and issued a $97.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, September 16th. The Goldman Sachs Group upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $78.00 to $93.00 in a research note on Wednesday, September 16th. Finally, KeyCorp upped their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, September 10th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock presently has an average rating of “Hold” and an average price target of $85.72.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Down 0.5%

Shares of NYSE:SUNB opened at $83.35 on Wednesday. The firm’s 50 day moving average price is $75.30 and its 200 day moving average price is $74.68. The stock has a market cap of $34.15 billion and a price-to-earnings ratio of 43.41. 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 quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.08.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.19. The firm had revenue of $3.12 billion during the quarter. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, 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 disclosed 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 1.4%. The ex-dividend date 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 dividend payout ratio (DPR) is 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.