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

Pictet Asset Management Holding SA cut its position in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) by 47.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. State Street Corp bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at about $440,999,000. Cooke & Bieler LP bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth approximately $153,350,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth approximately $92,910,000. Markel Group Inc. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth approximately $71,981,000. Finally, Broad Run Investment Management LLC acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $51,353,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company initiated coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, August 17th. They set an “overweight” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the stock an “underweight” rating in a report on Thursday, September 10th. Bank of America lifted their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the company an “underperform” rating in a research report on Thursday, September 10th. 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. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $80.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Thursday, September 17th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $85.72.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

Shares of NYSE SUNB opened at $81.62 on Friday. The company has a market capitalization of $33.44 billion and a PE ratio of 42.51. 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 stock’s 50 day moving average price is $76.47 and its 200-day moving average price is $74.90. 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 issued its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 EPS for the quarter, beating 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 quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 EPS for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

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

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

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.