Symmetry Investments LP Cuts Position in United Rentals, Inc. (NYSE:URI)

Symmetry Investments LP reduced its position in United Rentals, Inc. (NYSE:URI) by 67.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,898 shares of the construction company’s stock after selling 8,042 shares during the quarter. Symmetry Investments LP’s holdings in United Rentals were worth $2,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Financial Corp IN purchased a new stake in United Rentals in the first quarter worth approximately $25,000. Crewe Advisors LLC purchased a new stake in shares of United Rentals in the 1st quarter valued at $27,000. RFP Financial Group LLC boosted its stake in shares of United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares in the last quarter. Rise Advisors LLC bought a new position in shares of United Rentals during the 1st quarter valued at $28,000. Finally, Riverview Trust Co purchased a new position in United Rentals in the 1st quarter worth $31,000. 96.26% of the stock is currently owned by hedge funds and other 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 shares were sold at an average price of $690.00, for a total transaction 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by insiders.

United Rentals Stock Performance

Shares of URI opened at $783.60 on Friday. The company has a 50-day simple moving average of $722.27 and a two-hundred day simple moving average of $687.17. 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 has a market capitalization of $52.18 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68. United Rentals, Inc. has a one year low of $387.01 and a one year high of $801.39.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 35.87% and a net margin of 17.35%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.88 earnings per share. On average, analysts anticipate that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.83%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Wall Street Analysts Forecast Growth

URI has been the subject of several analyst reports. JPMorgan Chase & Co. started coverage on shares of United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price target for the company. The Goldman Sachs Group lifted their price target on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Raymond James assumed coverage on United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective for the company. Truist Financial raised their target price on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Citigroup started coverage on shares of United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $675.15.

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.