Lake Street Advisors Group LLC Sells 68 Shares of United Rentals, Inc. (NYSE:URI)

Lake Street Advisors Group LLC cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,326 shares of the construction company’s stock after selling 68 shares during the quarter. Lake Street Advisors Group LLC’s holdings in United Rentals were worth $858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. lifted its stake in shares of United Rentals by 0.3% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock valued at $3,461,000 after purchasing an additional 14 shares during the period. Ameritas Advisory Services LLC increased its holdings in shares of United Rentals by 3.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock worth $244,000 after purchasing an additional 14 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock worth $301,000 after acquiring an additional 15 shares during the period. Hoylecohen LLC grew its holdings in shares of United Rentals by 1.4% in the fourth quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock worth $667,000 after acquiring an additional 16 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of United Rentals by 4.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock worth $231,000 after acquiring an additional 16 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of URI opened at $681.10 on Friday. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $789.80. The stock has a fifty day moving average price of $703.72 and a 200-day moving average price of $682.81. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm has a market cap of $45.05 billion, a PE ratio of 18.45, a P/E/G ratio of 1.62 and a beta of 1.68.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $9.88 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that United Rentals, Inc. will post 44.5 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Wednesday, August 14th. United Rentals’s payout ratio is 17.66%.

Insider Activity at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 target price on the stock. Evercore ISI lifted their target price on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Truist Financial boosted their price objective on United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their price objective on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $675.15.

About United Rentals

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.