Hartford Investment Management Co. Reduces Position in United Rentals, Inc. (NYSE:URI)

Hartford Investment Management Co. decreased its holdings in United Rentals, Inc. (NYSE:URI) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,208 shares of the construction company’s stock after selling 68 shares during the quarter. Hartford Investment Management Co.’s holdings in United Rentals were worth $3,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital International Investors bought a new position in shares of United Rentals during the 1st quarter valued at $332,349,000. AMF Tjanstepension AB increased its position in United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after acquiring an additional 199,810 shares during the last quarter. Marshall Wace LLP lifted its holdings in United Rentals by 259.3% in the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after acquiring an additional 108,360 shares during the period. AGF Management Ltd. boosted its position 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 worth $67,048,000 after purchasing an additional 101,547 shares during the last quarter. Finally, Heritage Wealth Advisors grew its stake in shares of United Rentals by 15,100.8% during the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock valued at $72,674,000 after purchasing an additional 100,118 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 1.7 %

Shares of URI opened at $833.10 on Thursday. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $861.74. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $55.10 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.68. The business’s 50 day moving average is $766.03 and its 200 day moving average is $705.70.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping the consensus estimate of $10.48 by $0.22. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.88 earnings per share. Research analysts expect that United Rentals, Inc. will post 44.38 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.78%. United Rentals’s payout ratio is currently 17.21%.

Insider Buying and Selling at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Raymond James began coverage on shares of United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price target on the stock. Robert W. Baird upped their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Evercore ISI lifted their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Truist Financial boosted their price target on United Rentals from $873.00 to $954.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $714.92.

United Rentals Company 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.