Eastover Investment Advisors LLC Purchases 312 Shares of United Rentals, Inc. (NYSE:URI)

Eastover Investment Advisors LLC raised its position in shares of United Rentals, Inc. (NYSE:URI) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,439 shares of the construction company’s stock after buying an additional 312 shares during the quarter. United Rentals comprises approximately 3.6% of Eastover Investment Advisors LLC’s portfolio, making the stock its 13th biggest position. Eastover Investment Advisors LLC’s holdings in United Rentals were worth $7,643,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. First Financial Corp IN purchased a new position in shares of United Rentals during the first quarter valued at approximately $25,000. Crewe Advisors LLC bought a new stake in United Rentals in the first quarter worth $27,000. RFP Financial Group LLC grew its stake in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after acquiring an additional 22 shares during the last quarter. Rise Advisors LLC bought a new position in shares of United Rentals during the first quarter valued at $28,000. Finally, Riverview Trust Co purchased a new position in shares of United Rentals in the 1st quarter worth about $31,000. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James began coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective for the company. Citigroup began coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. 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. Finally, Robert W. Baird lifted their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $694.46.

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of the company’s 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 completion of the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at $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 is available at this hyperlink. Insiders own 0.53% of the company’s stock.

United Rentals Trading Up 1.7 %

Shares of URI stock opened at $802.82 on Tuesday. 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 company has a market cap of $53.46 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.84 and a beta of 1.68. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $826.24. The firm has a fifty day moving average price of $737.15 and a 200-day moving average price of $696.41.

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 analysts’ consensus estimates of $10.48 by $0.22. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.88 earnings per share. As a group, equities analysts predict that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $1.63 dividend. 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 0.81%. United Rentals’s dividend payout ratio (DPR) is presently 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.