Hartford Investment Management Co. Cuts Stake in United Rentals, Inc. (NYSE:URI)

Hartford Investment Management Co. cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,208 shares of the construction company’s stock after selling 68 shares during the quarter. Hartford Investment Management Co.’s holdings in United Rentals were worth $3,407,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in URI. First Financial Corp IN bought a new stake in United Rentals in the first quarter worth $25,000. Crewe Advisors LLC purchased a new stake in United Rentals during the 1st quarter valued at about $27,000. RFP Financial Group LLC grew its position in United Rentals by 115.8% during the 2nd 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. Riverview Trust Co purchased a new position in United Rentals in the 1st quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC boosted its stake in shares of United Rentals by 280.0% during the second quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after purchasing an additional 42 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Insider Activity at United Rentals

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

Wall Street Analyst Weigh In

Several brokerages recently commented on URI. Raymond James assumed coverage on shares of United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Evercore ISI increased their target price on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Citigroup raised their target price on United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial increased their price objective on United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Three investment 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.com, the stock has a consensus rating of “Hold” and an average target price of $714.92.

United Rentals Price Performance

URI opened at $833.10 on Thursday. The stock has a fifty day simple moving average of $766.03 and a two-hundred day simple moving average of $705.70. The company has a market cap of $55.10 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.68. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $861.74.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the business earned $9.88 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts predict that United Rentals, Inc. will post 44.38 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.78%. United Rentals’s payout ratio is 17.21%.

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.