abrdn plc Boosts Position in United Rentals, Inc. (NYSE:URI)

abrdn plc lifted its stake in United Rentals, Inc. (NYSE:URI) by 1.3% during the third quarter, Holdings Channel reports. The institutional investor owned 31,348 shares of the construction company’s stock after acquiring an additional 389 shares during the quarter. abrdn plc’s holdings in United Rentals were worth $25,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in URI. International Assets Investment Management LLC increased its stake in shares of United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after purchasing an additional 1,604,715 shares in the last quarter. Capital International Investors purchased a new stake in shares of United Rentals in the 1st quarter valued at $332,349,000. AMF Tjanstepension AB lifted its position in shares of United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after purchasing an additional 199,810 shares in the last quarter. Marshall Wace LLP boosted its position in United Rentals by 259.3% in the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after buying an additional 108,360 shares during the period. Finally, AGF Management Ltd. boosted its holdings in United Rentals by 4,778.7% in the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock valued at $67,048,000 after purchasing an additional 101,547 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on URI. Citigroup raised their price target on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Truist Financial raised their price objective on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird boosted their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $742.50.

United Rentals Price Performance

Shares of URI opened at $813.37 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The firm has a market cap of $53.37 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.87 and a beta of 1.68. United Rentals, Inc. has a 52 week low of $395.44 and a 52 week high of $861.74. The stock has a 50 day moving average of $780.36 and a 200-day moving average of $711.80.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm earned $11.73 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that United Rentals, Inc. will post 44.31 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is presently 17.03%.

Insider Buying and Selling

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.49% of the company’s stock.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.