Hancock Whitney Corp Reduces Position in United Rentals, Inc. (NYSE:URI)

Hancock Whitney Corp cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,717 shares of the construction company’s stock after selling 178 shares during the period. Hancock Whitney Corp’s holdings in United Rentals were worth $1,110,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of URI. Capital Research Global Investors boosted its stake in shares of United Rentals by 39.1% during the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after buying an additional 1,799,997 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of United Rentals by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after purchasing an additional 11,429 shares during the last quarter. Capital International Investors acquired a new position in shares of United Rentals in the first quarter valued at approximately $332,349,000. AMF Tjanstepension AB raised its stake in shares of United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after purchasing an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of United Rentals by 5.7% during the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after purchasing an additional 20,481 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Transactions at United Rentals

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

United Rentals Price Performance

URI stock opened at $783.60 on Monday. The stock’s 50 day moving average price is $722.27 and its 200 day moving average price is $687.29. The firm has a market cap of $52.18 billion, a P/E ratio of 21.22, a PEG ratio of 1.72 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $801.39.

United Rentals (NYSE:URI) last issued its quarterly earnings data 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 return on equity of 35.87% and a net margin of 17.35%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business earned $9.88 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 annualized dividend and a dividend yield of 0.83%. United Rentals’s dividend payout ratio is presently 17.66%.

Analyst Ratings Changes

URI has been the subject of several recent analyst reports. Raymond James began coverage on shares of United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Citigroup started coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective for the company. JPMorgan Chase & Co. started 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 raised their price target on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Truist Financial upped their price objective on United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $675.15.

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.