Argent Trust Co Acquires 852 Shares of United Rentals, Inc. (NYSE:URI)

Argent Trust Co grew its position in shares of United Rentals, Inc. (NYSE:URI) by 67.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,119 shares of the construction company’s stock after buying an additional 852 shares during the quarter. Argent Trust Co’s holdings in United Rentals were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors increased its stake in shares of United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares in the last quarter. Capital International Investors bought a new stake in shares of United Rentals in the 1st quarter worth about $332,349,000. AMF Tjanstepension AB lifted its position in United Rentals by 77.7% in the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares during the last quarter. AGF Management Ltd. lifted its stake 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 boosted its stake in shares of United Rentals by 15,100.8% during the first 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. 96.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Stock Up 0.3 %

Shares of NYSE URI opened at $773.29 on Thursday. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $801.39. The company has a market capitalization of $51.49 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.72 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. The firm’s 50-day moving average is $715.08 and its two-hundred day moving average is $685.31.

United Rentals (NYSE:URI) last issued its quarterly 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 during the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. United Rentals’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.88 earnings per share. Equities analysts anticipate that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on URI shares. Raymond James started coverage on shares of United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective for the company. Evercore ISI lifted their target price on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. JPMorgan Chase & Co. started coverage on United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price on the stock. Citigroup began coverage on shares of United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. Finally, Truist Financial upped their price objective on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three research 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, United Rentals currently has a consensus rating of “Hold” and a consensus price target of $675.15.

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.