Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Stock Short Interest Falls 58.0%

by · The Markets Daily

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Get Free Report) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 8,617,012 shares, a decline of 58.0% from the August 31st total of 20,515,658 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 9,653,303 shares, the days-to-cover ratio is presently 0.9 days.

Sunbelt Rentals Holdings, Inc. Common Stock Trading Down 1.5%

NYSE:SUNB traded down $1.09 during trading hours on Tuesday, hitting $73.80. 4,804,780 shares of the stock traded hands, compared to its average volume of 7,106,553. Sunbelt Rentals Holdings, Inc. Common Stock has a 1 year low of $61.03 and a 1 year high of $86.68. The stock has a 50 day moving average price of $74.95 and a 200 day moving average price of $74.05. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.94 and a quick ratio of 0.87.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB – Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.19. The firm 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. Equities research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, September 18th. This is a drop from Sunbelt Rentals Holdings, Inc. Common Stock’s previous quarterly dividend of $0.75. Sunbelt Rentals Holdings, Inc. Common Stock’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

SUNB has been the subject of a number of research reports. Barclays upped their target price 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. Sanford C. Bernstein restated 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th. JPMorgan Chase & Co. lifted 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, The Goldman Sachs Group raised Sunbelt Rentals Holdings, Inc. Common Stock from a “neutral” rating to a “buy” rating and boosted their price target for the company from $78.00 to $93.00 in a report on Wednesday, September 16th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.33.

Check Out Our Latest Analysis on Sunbelt Rentals Holdings, Inc. Common Stock

Insider Activity at Sunbelt Rentals Holdings, Inc. Common Stock

In other news, COO John Washburn sold 3,351 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $70.00, for a total transaction of $234,570.00. Following the completion of the sale, the chief operating officer owned 72,394 shares of the company’s stock, valued at $5,067,580. This represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Institutional Trading of Sunbelt Rentals Holdings, Inc. Common Stock

Institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth approximately $685,000. Envestnet Asset Management Inc. bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $26,298,000. Andra AP fonden purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth $6,052,000. State Street Corp purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth $440,999,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth $11,553,000.

About Sunbelt Rentals Holdings, Inc. Common Stock

(Get Free Report)

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.

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