Private Advisor Group LLC Cuts Stock Holdings in United Rentals, Inc. (NYSE:URI)

Private Advisor Group LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,670 shares of the construction company’s stock after selling 409 shares during the quarter. Private Advisor Group LLC’s holdings in United Rentals were worth $5,402,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in URI. Capital International Investors purchased a new stake in United Rentals in the 1st quarter worth $332,349,000. AMF Tjanstepension AB increased its holdings in United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after acquiring an additional 199,810 shares in the last quarter. Marshall Wace LLP increased its holdings in United Rentals by 259.3% in the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after acquiring an additional 108,360 shares in the last quarter. AGF Management Ltd. increased its holdings 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 acquiring an additional 101,547 shares in the last quarter. Finally, Heritage Wealth Advisors increased its holdings in United Rentals by 15,100.8% in the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock worth $72,674,000 after acquiring an additional 100,118 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 1.5 %

NYSE URI opened at $812.50 on Friday. The firm’s 50-day moving average is $772.68 and its two-hundred day moving average is $708.24. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $861.74. 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 stock has a market capitalization of $54.10 billion, a P/E ratio of 22.01, a PEG ratio of 1.96 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $11.73 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.38 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a yield of 0.80%. United Rentals’s payout ratio is currently 17.66%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays boosted their price target on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a report on Friday. 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. Evercore ISI lifted their target price on shares of 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 lifted their target price on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup lifted their target price on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and a consensus price target of $742.50.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

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.