Pictet Asset Management Holding SA lifted its position in United Rentals, Inc. (NYSE:URI – Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 172,515 shares of the construction company’s stock after acquiring an additional 18,772 shares during the quarter. Pictet Asset Management Holding SA’s holdings in United Rentals were worth $172,657,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Cidel Asset Management Inc. boosted its stake in United Rentals by 2.4% in the 2nd quarter. Cidel Asset Management Inc. now owns 425 shares of the construction company’s stock worth $481,000 after purchasing an additional 10 shares during the period. SBI Securities Co. Ltd. raised its stake in United Rentals by 3.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 331 shares of the construction company’s stock valued at $331,000 after purchasing an additional 10 shares during the period. CoreCap Advisors LLC raised its stake in United Rentals by 16.9% during the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock valued at $86,000 after purchasing an additional 11 shares during the period. Parallel Advisors LLC raised its stake in United Rentals by 0.8% during the 1st quarter. Parallel Advisors LLC now owns 1,485 shares of the construction company’s stock valued at $1,082,000 after purchasing an additional 12 shares during the period. Finally, Frazier Financial Advisors LLC raised its stake in United Rentals by 33.3% during the 1st quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock valued at $41,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on URI shares. Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 22nd. Sanford C. Bernstein set a $1,258.00 price target on United Rentals in a report on Friday, October 23rd. BNP Paribas Exane upped their price target on United Rentals from $1,365.00 to $1,455.00 and gave the company an “outperform” rating in a research report on Friday, October 23rd. Robert W. Baird set a $1,310.00 price objective on United Rentals in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. downgraded United Rentals from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $1,235.00 to $1,170.00 in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,238.53.
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United Rentals Stock Performance
Shares of URI opened at $1,053.32 on Monday. The company’s 50 day moving average price is $1,054.02 and its 200 day moving average price is $975.49. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,202.12. The company has a market capitalization of $65.22 billion, a PE ratio of 23.15, a PEG ratio of 1.48 and a beta of 1.82. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.73 and a current ratio of 0.80.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, beating the consensus estimate of $13.97 by $1.58. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the prior year, the business earned $11.70 EPS. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts expect that United Rentals, Inc. will post 51.51 EPS for the current fiscal year.
United Rentals Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, November 10th. United Rentals’s payout ratio is currently 17.32%.
United Rentals Company Profile
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