United Rentals, Inc. (NYSE:URI) Stake Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in United Rentals, Inc. (NYSE:URI) by 15.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 787,877 shares of the construction company’s stock after acquiring an additional 105,287 shares during the period. JPMorgan Chase & Co. owned 1.20% of United Rentals worth $637,968,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after purchasing an additional 964 shares in the last quarter. Essex Financial Services Inc. increased its holdings in United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after buying an additional 136 shares during the last quarter. Retireful LLC acquired a new stake in United Rentals during the third quarter valued at approximately $697,000. Mizuho Securities USA LLC lifted its holdings in United Rentals by 1,067.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after buying an additional 54,750 shares during the last quarter. Finally, XTX Topco Ltd grew its position in shares of United Rentals by 428.8% in the 3rd quarter. XTX Topco Ltd now owns 1,692 shares of the construction company’s stock worth $1,370,000 after acquiring an additional 1,372 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by corporate insiders.

United Rentals Trading Down 1.3 %

Shares of URI stock opened at $716.54 on Friday. United Rentals, Inc. has a 1 year low of $533.70 and a 1 year high of $896.98. The firm has a market capitalization of $47.02 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.66. The stock has a fifty day moving average of $815.52 and a two-hundred day moving average of $753.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82.

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). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $11.73 EPS. As a group, research analysts expect that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $1.63 per share. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.91%. United Rentals’s payout ratio is 17.03%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on URI. Bank of America upped their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays lifted their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Truist Financial increased their price objective on shares of United Rentals from $955.00 to $965.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Robert W. Baird increased their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $770.71.

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.