Amalgamated Bank Cuts Stake in United Rentals, Inc. (NYSE:URI)

Amalgamated Bank decreased its stake in United Rentals, Inc. (NYSE:URI) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,679 shares of the construction company’s stock after selling 533 shares during the quarter. Amalgamated Bank’s holdings in United Rentals were worth $8,847,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of URI. First Financial Corp IN purchased a new position in United Rentals in the 1st quarter worth approximately $25,000. Crewe Advisors LLC acquired a new position in shares of United Rentals during the first quarter worth $27,000. RFP Financial Group LLC boosted its stake in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares during the period. Rise Advisors LLC acquired a new stake in United Rentals during the 1st quarter valued at $28,000. Finally, Riverview Trust Co purchased a new stake in United Rentals during the 1st quarter worth $31,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of NYSE:URI opened at $773.29 on Thursday. The company has a market cap of $51.49 billion, a PE ratio of 20.95, a P/E/G ratio of 1.72 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $801.39. The firm has a 50-day simple moving average of $715.08 and a 200 day simple moving average of $685.31. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. The company had revenue of $3.77 billion during 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 business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $9.88 earnings per share. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is 17.66%.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. began coverage on United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective for the company. Evercore ISI upped their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Truist Financial increased their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Citigroup began coverage on shares of United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $675.15.

Insider Activity

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

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.