Narwhal Capital Management Makes New $6.79 Million Investment in Sunbelt Rentals Holdings, Inc. Common Stock $SUNB

Narwhal Capital Management acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) in the third quarter, HoldingsChannel.com reports. The fund acquired 92,816 shares of the company’s stock, valued at approximately $6,795,000.

A number of other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at about $25,000. Allworth Financial LP acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth about $30,000. MassMutual Private Wealth & Trust FSB acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 3rd quarter worth about $31,000. Versant Capital Management Inc raised its holdings in Sunbelt Rentals Holdings, Inc. Common Stock by 90.4% in the 3rd quarter. Versant Capital Management Inc now owns 916 shares of the company’s stock worth $67,000 after purchasing an additional 435 shares during the period. Finally, Heritage Family Offices LLP purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the third quarter worth approximately $73,000.

Analyst Ratings Changes

Several analysts have commented on the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $97.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Wednesday, September 16th. Morgan Stanley restated an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, September 21st. Wells Fargo & Company initiated coverage on 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. Bank of America increased their target price on 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. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $80.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Thursday, September 17th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.72.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Down 0.5%

SUNB stock opened at $81.25 on Wednesday. The stock has a market capitalization of $33.29 billion and a P/E ratio of 42.32. The firm has a 50-day simple moving average of $75.85 and a 200-day simple moving average of $74.81. 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 released its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share for the quarter, topping 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% on a year-over-year basis. Equities 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 company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 18th. This is a decrease from Sunbelt Rentals Holdings, Inc. Common Stock’s previous quarterly dividend of $0.75. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. Sunbelt Rentals Holdings, Inc. Common Stock’s payout ratio is currently 62.50%.

Sunbelt Rentals Holdings, Inc. Common Stock 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.