Sterling Capital Management LLC Acquires 11,873 Shares of Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Sterling Capital Management LLC purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) during the 3rd quarter, HoldingsChannel reports. The firm purchased 11,873 shares of the company’s stock, valued at approximately $869,000.

Several other large investors have also made changes to their positions in the business. Parkside Financial Bank & Trust purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at $25,000. Allworth Financial LP acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter worth $31,000. Versant Capital Management Inc increased its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 90.4% during the third quarter. Versant Capital Management Inc now owns 916 shares of the company’s stock worth $67,000 after purchasing an additional 435 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth approximately $83,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. KeyCorp upped 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 Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, August 17th. They set an “overweight” rating and a $96.00 price objective for the company. Morgan Stanley reissued an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, September 21st. Bank of America boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock has a consensus rating of “Hold” and a consensus target price of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

SUNB stock opened at $81.77 on Wednesday. The company’s 50 day moving average is $74.71 and its two-hundred day moving average is $74.40. 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 results on Wednesday, September 9th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.19. The company had revenue of $3.12 billion during the quarter. Sunbelt Rentals Holdings, Inc. Common Stock’s revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend 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 Profile

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.