Amalgamated Bank Decreases Stake in United Rentals, Inc. (NYSE:URI)

Amalgamated Bank lessened its stake in United Rentals, Inc. (NYSE:URI) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,679 shares of the construction company’s stock after selling 533 shares during the quarter. Amalgamated Bank’s holdings in United Rentals were worth $8,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in URI. Precision Wealth Strategies LLC acquired a new stake in shares of United Rentals during the 4th quarter valued at approximately $227,000. Gryphon Financial Partners LLC acquired a new position in United Rentals during the fourth quarter worth $281,000. D.A. Davidson & CO. boosted its position in United Rentals by 3.0% during the fourth quarter. D.A. Davidson & CO. now owns 7,015 shares of the construction company’s stock worth $4,023,000 after purchasing an additional 202 shares in the last quarter. Franklin Resources Inc. grew its holdings in United Rentals by 7.1% in the fourth quarter. Franklin Resources Inc. now owns 83,344 shares of the construction company’s stock valued at $47,791,000 after purchasing an additional 5,526 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its position in shares of United Rentals by 32.5% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 8,754 shares of the construction company’s stock valued at $5,020,000 after buying an additional 2,147 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Evercore ISI increased their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. The Goldman Sachs Group increased their price target 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. JPMorgan Chase & Co. began coverage on United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective for the company. Truist Financial increased their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Raymond James initiated coverage on United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $675.15.

United Rentals Price Performance

URI opened at $773.29 on Thursday. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $801.39. The company’s 50 day simple moving average is $715.08 and its 200 day simple moving average is $685.31. The stock has a market capitalization of $51.49 billion, a PE ratio of 20.95, a P/E/G ratio of 1.72 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The company had revenue of $3.77 billion for 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% on a year-over-year basis. During the same quarter last year, the business earned $9.88 EPS. As a group, sell-side analysts expect that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Dividend Announcement

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

United Rentals 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.