Private Advisor Group LLC Cuts Position in United Rentals, Inc. (NYSE:URI)

Private Advisor Group LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 5.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,670 shares of the construction company’s stock after selling 409 shares during the period. Private Advisor Group LLC’s holdings in United Rentals were worth $5,402,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Symphony Financial Ltd. Co. purchased a new stake in shares of United Rentals during the third quarter worth approximately $203,000. Eastern Bank purchased a new stake in shares of United Rentals during the third quarter worth approximately $56,000. Sequoia Financial Advisors LLC boosted its holdings in United Rentals by 11.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,346 shares of the construction company’s stock valued at $1,090,000 after purchasing an additional 140 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in United Rentals by 61.2% in the third quarter. Raleigh Capital Management Inc. now owns 79 shares of the construction company’s stock valued at $64,000 after purchasing an additional 30 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in United Rentals by 2.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 20,734 shares of the construction company’s stock valued at $16,789,000 after purchasing an additional 539 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial upped their price target on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI upped their price target on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Barclays upped their price target on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday. Finally, Robert W. Baird increased their price objective on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Three research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $742.50.

United Rentals Price Performance

Shares of NYSE URI opened at $812.50 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a fifty day moving average price of $772.68 and a 200 day moving average price of $708.24. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $861.74. The company has a market cap of $54.10 billion, a PE ratio of 22.01, a P/E/G ratio of 1.96 and a beta of 1.68.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.73 EPS. Sell-side analysts forecast that United Rentals, Inc. will post 44.38 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is 17.66%.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the 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 owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

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.