United Rentals, Inc. (NYSE:URI) Position Raised by US Bancorp DE

US Bancorp DE lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 0.5% in the 3rd quarter, Holdings Channel reports. The fund owned 20,859 shares of the construction company’s stock after buying an additional 114 shares during the period. US Bancorp DE’s holdings in United Rentals were worth $16,890,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. HM Payson & Co. bought a new position in United Rentals in the 3rd quarter worth about $41,000. E Fund Management Hong Kong Co. Ltd. bought a new position in United Rentals in the 3rd quarter worth approximately $31,000. Cornerstone Wealth Group LLC acquired a new stake in United Rentals in the 3rd quarter valued at approximately $233,000. Pinnacle Associates Ltd. raised its stake in United Rentals by 66.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $5,193,000 after acquiring an additional 2,556 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in United Rentals by 17.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,289 shares of the construction company’s stock worth $2,663,000 after acquiring an additional 496 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

Shares of URI opened at $793.47 on Friday. United Rentals, Inc. has a one year low of $419.81 and a one year high of $861.74. The company has a 50-day moving average of $781.33 and a two-hundred day moving average of $712.68. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The stock has a market cap of $52.07 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 1.90 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the firm posted $11.73 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts expect that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America raised their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. 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 note on Monday, August 19th. Barclays upped their target price on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Robert W. Baird boosted their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Finally, Truist Financial lifted their target price on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $742.50.

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.