United Rentals, Inc. (NYSE:URI) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its position in United Rentals, Inc. (NYSE:URI) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,329 shares of the construction company’s stock after selling 299 shares during the period. Park Avenue Securities LLC’s holdings in United Rentals were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Essex Financial Services Inc. increased its holdings in shares of United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after purchasing an additional 136 shares during the period. Nomura Holdings Inc. acquired a new position in United Rentals in the 4th quarter worth approximately $780,000. Forsta AP Fonden raised its position in United Rentals by 2.8% during the 1st quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock worth $10,528,000 after buying an additional 400 shares during the last quarter. Tidal Investments LLC raised its position in United Rentals by 241.2% during the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after buying an additional 3,435 shares during the last quarter. Finally, BDF Gestion acquired a new stake in United Rentals during the 2nd quarter valued at approximately $2,998,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the 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 completion of the sale, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Stock Performance

NYSE:URI opened at $799.71 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market capitalization of $52.89 billion, a PE ratio of 21.66, a P/E/G ratio of 1.83 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $826.24. The company has a fifty day moving average of $738.41 and a two-hundred day moving average of $697.01.

United Rentals (NYSE:URI) last posted its quarterly earnings data 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 company had revenue of $3.77 billion during 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%. United Rentals’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $9.88 EPS. As a group, research analysts forecast that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.82%. United Rentals’s payout ratio is currently 17.66%.

Analysts Set New Price Targets

Several research analysts recently issued reports on URI shares. The Goldman Sachs Group raised their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Evercore ISI lifted their price objective on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Citigroup assumed coverage on 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 boosted their price target on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $694.46.

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.