Inspire Investing LLC Lowers Stake in United Rentals, Inc. (NYSE:URI)

Inspire Investing LLC trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 9.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,642 shares of the construction company’s stock after selling 728 shares during the period. Inspire Investing LLC’s holdings in United Rentals were worth $4,296,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Essex Financial Services Inc. lifted its position in United Rentals by 31.9% during the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of United Rentals during the fourth quarter worth $780,000. Forsta AP Fonden lifted its holdings in shares of United Rentals by 2.8% during the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock worth $10,528,000 after purchasing an additional 400 shares during the period. Tidal Investments LLC grew its position in United Rentals by 241.2% in the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after buying an additional 3,435 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in United Rentals in the 4th quarter valued at $779,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Joli L. Gross sold 360 shares of the stock in a transaction on Friday, August 2nd. The stock was 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 filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on URI shares. JPMorgan Chase & Co. started coverage on shares of United Rentals in a research note on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price for the company. Evercore ISI raised their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Citigroup initiated coverage on United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price on the stock. The Goldman Sachs Group increased their target price 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, Raymond James started coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target on the stock. Three equities 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $675.15.

United Rentals Price Performance

United Rentals stock opened at $773.29 on Thursday. The firm has a market capitalization 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 52 week low of $387.01 and a 52 week high of $801.39. The firm’s 50-day simple moving average is $715.08 and its 200 day simple moving average is $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 announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $9.88 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that United Rentals, Inc. will post 44.39 EPS for the current fiscal 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 issued a dividend of $1.63 per share. 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 dividend payout ratio (DPR) is presently 17.66%.

United Rentals 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.