Renaissance Investment Group LLC lowered its position in United Rentals, Inc. (NYSE:URI – Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,776 shares of the construction company’s stock after selling 625 shares during the quarter. United Rentals makes up about 3.4% of Renaissance Investment Group LLC’s portfolio, making the stock its 11th biggest position. Renaissance Investment Group LLC’s holdings in United Rentals were worth $16,789,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of URI. Clal Insurance Enterprises Holdings Ltd bought a new stake in United Rentals during the 2nd quarter valued at $29,000. MidFirst Bank bought a new position in shares of United Rentals during the 2nd quarter worth $31,000. Bell Investment Advisors Inc bought a new position in shares of United Rentals during the 2nd quarter worth $40,000. Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals in the third quarter valued at about $40,000. Finally, Frazier Financial Advisors LLC raised its holdings in shares of United Rentals by 33.3% in the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock valued at $41,000 after acquiring an additional 14 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
URI has been the topic of several recent research reports. Sanford C. Bernstein set a $1,258.00 target price on shares of United Rentals in a report on Friday, October 23rd. Truist Financial boosted their price target on shares of United Rentals from $1,395.00 to $1,450.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Robert W. Baird set a $1,310.00 price target on shares of United Rentals in a research report on Friday, October 23rd. KeyCorp reiterated an “overweight” rating on shares of United Rentals in a research note on Friday, October 23rd. Finally, Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,288.19.
Get Our Latest Analysis on URI
United Rentals Trading Down 2.6%
URI opened at $1,167.43 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.35. The firm has a market cap of $72.29 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.70 and a beta of 1.83. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,202.12. The stock has a fifty day moving average price of $1,049.13 and a 200-day moving average price of $970.70.
United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, beating analysts’ consensus estimates of $13.97 by $1.58. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter last year, the company earned $11.70 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, equities research analysts anticipate that United Rentals, Inc. will post 50.83 earnings per share for the current fiscal year.
United Rentals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be issued a $1.97 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s payout ratio is currently 17.32%.
United Rentals Profile
United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.
Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.
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