Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) announced its quarterly earnings results on Wednesday. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.19, FiscalAI reports. The company had revenue of $3.12 billion during the quarter.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of NYSE SUNB opened at $69.43 on Wednesday. The company has a 50 day moving average price of $74.68. The stock has a market capitalization of $28.46 billion and a price-to-earnings ratio of 93.82. 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 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Sunbelt Rentals Holdings, Inc. Common Stock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, July 10th. Sunbelt Rentals Holdings, Inc. Common Stock’s payout ratio is currently 405.41%.

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.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several research analysts recently commented on SUNB shares. JPMorgan Chase & Co. dropped their price target on Sunbelt Rentals Holdings, Inc. Common Stock from $74.00 to $71.00 and set an “underweight” rating for the company in a research report on Wednesday, September 2nd. Royal Bank Of Canada upgraded Sunbelt Rentals Holdings, Inc. Common Stock from an “underperform” rating to a “sector perform” rating and set a $80.00 price target on the stock in a report on Friday, June 19th. Wells Fargo & Company started 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 price objective for the company. Sanford C. Bernstein restated an “outperform” rating and issued a $96.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, July 21st. Finally, Barclays upped their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, June 22nd. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s 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 $83.67.

About Sunbelt Rentals Holdings, Inc. Common Stock

Sunbelt Rentals Holdings, Inc is a major equipment rental company that provides a broad range of rental solutions to construction, industrial, municipal and specialty markets. The company’s business centers on short- and long-term rental of equipment used for earthmoving, aerial access, material handling, power generation, climate control, pumps and general tools, supporting customers who need flexible access to capital-intensive assets without the expense of ownership.

In addition to physical equipment, Sunbelt Rentals offers complementary services designed to keep projects running efficiently.