American Century Companies Inc. Cuts Stock Holdings in United Rentals, Inc. (NYSE:URI)

American Century Companies Inc. cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,995 shares of the construction company’s stock after selling 2,926 shares during the period. American Century Companies Inc. owned 0.09% of United Rentals worth $36,860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors grew its position in United Rentals by 39.1% during the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after acquiring an additional 1,799,997 shares during the period. The Manufacturers Life Insurance Company increased its position in United Rentals by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock worth $372,945,000 after purchasing an additional 11,429 shares in the last quarter. Capital International Investors purchased a new position in United Rentals in the first quarter valued at approximately $332,349,000. AMF Tjanstepension AB lifted 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 buying an additional 199,810 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in United Rentals by 0.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,389 shares of the construction company’s stock worth $120,543,000 after buying an additional 1,267 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on URI shares. Raymond James began coverage on shares of United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Citigroup assumed 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. Evercore ISI increased their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Truist Financial boosted their price target on United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group increased their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $675.15.

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 shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $2,822,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Trading Up 4.0 %

NYSE URI opened at $771.63 on Wednesday. The company has a market capitalization of $51.04 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.65 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $789.80. The company’s fifty day moving average price is $712.20 and its two-hundred day moving average price is $684.81.

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

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio is currently 17.66%.

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.