Rakuten Investment Management Inc. Makes New Investment in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Rakuten Investment Management Inc. acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,634 shares of the company’s stock, valued at approximately $1,965,000.

Several other large investors have also bought and sold shares of SUNB. Councilmark Asset Management LLC boosted its stake in Sunbelt Rentals Holdings, Inc. Common Stock by 1.5% during the second quarter. Councilmark Asset Management LLC now owns 10,020 shares of the company’s stock valued at $750,000 after buying an additional 150 shares in the last quarter. Farther Finance Advisors LLC raised its position in Sunbelt Rentals Holdings, Inc. Common Stock by 14.6% in the third quarter. Farther Finance Advisors LLC now owns 1,631 shares of the company’s stock worth $119,000 after acquiring an additional 208 shares in the last quarter. Parkside Financial Bank & Trust bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $25,000. Allworth Financial LP bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $30,000. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth about $31,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of NYSE SUNB opened at $76.82 on Friday. The stock’s fifty day simple moving average is $75.49 and its 200 day simple moving average is $74.73. The stock has a market capitalization of $31.48 billion and a price-to-earnings ratio of 40.01. 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 has a 52-week low of $61.03 and a 52-week high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last announced its earnings results on Wednesday, September 9th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.99 by $0.19. The company had revenue of $3.12 billion for the quarter. Sunbelt Rentals Holdings, Inc. Common Stock’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. 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 (DPR) is 62.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein restated 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. Bank of America lifted their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the stock an “underperform” rating in a research note on Thursday, September 10th. KeyCorp boosted their target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Wells Fargo & Company assumed coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, August 17th. They set an “overweight” rating and a $96.00 target price for the company. Finally, Morgan Stanley restated an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, September 21st. Nine equities 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.72.

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.