Bank of New York Mellon Corp Cuts Position in United Rentals, Inc. (NYSE:URI)

Bank of New York Mellon Corp decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 443,618 shares of the construction company’s stock after selling 2,601 shares during the period. Bank of New York Mellon Corp’s holdings in United Rentals were worth $286,901,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in URI. Concurrent Investment Advisors LLC lifted its position in United Rentals by 3.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock worth $301,000 after buying an additional 15 shares during the last quarter. Hoylecohen LLC boosted its stake in shares of United Rentals by 1.4% in the 4th quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of United Rentals by 4.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock valued at $231,000 after purchasing an additional 16 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of United Rentals by 0.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 3,841 shares of the construction company’s stock valued at $2,484,000 after purchasing an additional 17 shares during the last quarter. Finally, Choreo LLC raised its position in United Rentals by 1.3% in the 1st quarter. Choreo LLC now owns 1,456 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 18 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 0.2 %

Shares of URI opened at $743.49 on Tuesday. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $789.80. The firm has a market capitalization of $49.51 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.66 and a beta of 1.71. The firm’s 50-day moving average price is $689.68 and its 200-day moving average price is $678.84. 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 (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating the consensus estimate of $10.48 by $0.22. The company had revenue of $3.77 billion for 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%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.88 earnings per share. Sell-side analysts anticipate that United Rentals, Inc. will post 44.4 EPS for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 14th. United Rentals’s dividend payout ratio is presently 17.66%.

Insider Buying and Selling

In related 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 owns 4,090 shares of the company’s stock, valued at $2,822,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on URI shares. The Goldman Sachs Group raised their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. started coverage on United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price target on the stock. Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective for the company. Oppenheimer restated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Truist Financial upped their price target on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus target price of $675.15.

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.