Montrusco Bolton Investments Inc. Makes New $51.83 Million Investment in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Montrusco Bolton Investments Inc. purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) during the third quarter, according to its most recent filing with the SEC. The fund purchased 698,976 shares of the company’s stock, valued at approximately $51,832,000.

Several other hedge funds have also bought and sold shares of the stock. Burkett Asset Management Ltd boosted its holdings in shares of Sunbelt Rentals Holdings, Inc. Common Stock by 16.5% during the 3rd quarter. Burkett Asset Management Ltd now owns 30,189 shares of the company’s stock valued at $2,210,000 after purchasing an additional 4,276 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter valued at about $232,000. Diversified Management Inc. purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the third quarter worth about $2,190,000. Farther Finance Advisors LLC boosted its stake in Sunbelt Rentals Holdings, Inc. Common Stock by 14.6% during the third quarter. Farther Finance Advisors LLC now owns 1,631 shares of the company’s stock valued at $119,000 after buying an additional 208 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter valued at approximately $31,000.

Analysts Set New Price Targets

Several equities analysts have weighed in on SUNB shares. Bank of America raised their price target on Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the company an “underperform” rating in a report on Thursday, September 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $97.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Wednesday, September 16th. Wells Fargo & Company assumed 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 on the stock. JPMorgan Chase & Co. increased their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the company an “underweight” rating in a research report on Thursday, September 10th. Finally, Weiss Ratings downgraded Sunbelt Rentals Holdings, Inc. Common Stock from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, September 28th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

Shares of NYSE:SUNB traded up $2.01 on Tuesday, reaching $77.57. The company’s stock had a trading volume of 3,330,788 shares, compared to its average volume of 4,281,159. The company has a 50-day simple moving average of $75.20 and a 200 day simple moving average of $74.44. 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 debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 0.94. The company has a market cap of $31.79 billion and a P/E ratio of 40.40.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last announced its earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.19. The business had revenue of $3.12 billion for the quarter. The business’s revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 EPS 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 given a $0.30 dividend. This is a decrease from Sunbelt Rentals Holdings, Inc. Common Stock’s previous quarterly dividend of $0.75. This represents a $1.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, September 18th. 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 operating under the Sunbelt Rentals brand. It provides rental equipment and related services to construction, industrial, commercial, infrastructure, government, entertainment and residential customers.

The company’s rental fleet includes aerial work platforms, earthmoving and material-handling equipment, general construction tools, power-generation systems, climate-control equipment, pumps, trucks and trailers. Sunbelt Rentals also provides specialty services such as temporary power, heating and cooling, site support, fluid management and equipment delivery.

Sunbelt Rentals serves customers across the United States, Canada and the United Kingdom through a network of rental locations and service operations.