NewEdge Advisors LLC Sells 214 Shares of United Rentals, Inc. (NYSE:URI)

NewEdge Advisors LLC decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 8.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,277 shares of the construction company’s stock after selling 214 shares during the period. NewEdge Advisors LLC’s holdings in United Rentals were worth $1,473,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors purchased a new stake in United Rentals in the first quarter worth approximately $332,349,000. AMF Tjanstepension AB boosted its stake in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after purchasing an additional 199,810 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of United Rentals by 259.3% during the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after purchasing an additional 108,360 shares during the last quarter. AGF Management Ltd. raised its position in United Rentals by 4,778.7% in the 2nd 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 period. Finally, Heritage Wealth Advisors lifted its stake in United Rentals by 15,100.8% in the first quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock worth $72,674,000 after purchasing an additional 100,118 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on URI. Raymond James began coverage on United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective on the stock. Evercore ISI lifted their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Truist Financial increased their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group lifted their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Robert W. Baird increased their price target on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $694.46.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

United Rentals Trading Up 0.0 %

Shares of URI opened at $789.52 on Friday. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $826.24. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm’s 50-day moving average price is $735.99 and its 200-day moving average price is $695.90. The firm has a market capitalization of $52.57 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.84 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm posted $9.88 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Sell-side analysts anticipate 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. Investors of record on Wednesday, August 14th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.83%. United Rentals’s payout ratio is 17.66%.

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.