LPL Financial LLC Trims Holdings in United Rentals, Inc. (NYSE:URI)

LPL Financial LLC trimmed its position in United Rentals, Inc. (NYSE:URI) by 16.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,262 shares of the construction company’s stock after selling 23,124 shares during the period. LPL Financial LLC owned about 0.17% of United Rentals worth $74,543,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of URI. First Financial Corp IN acquired a new stake in United Rentals during the 1st quarter worth approximately $25,000. Crewe Advisors LLC acquired a new stake in United Rentals during the 1st quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in United Rentals in the first quarter valued at approximately $28,000. RFP Financial Group LLC grew its position in United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after acquiring an additional 22 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in United Rentals in the first quarter valued at approximately $31,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 2.4 %

URI opened at $729.47 on Friday. The business has a 50 day moving average price of $710.11 and a 200 day moving average price of $684.42. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $789.80. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $48.58 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 1.64 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the company earned $9.88 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts forecast that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.89%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on URI. JPMorgan Chase & Co. began coverage on shares of United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price target for the company. The Goldman Sachs Group raised their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup started coverage on United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 price objective on the stock. Raymond James started coverage on United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective on the stock. Finally, Truist Financial raised their price objective on United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and an average price target of $675.15.

United Rentals Profile

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.