Morse Asset Management Inc Cuts Stock Holdings in United Rentals, Inc. (NYSE:URI)

Morse Asset Management Inc cut its stake in United Rentals, Inc. (NYSE:URI) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,978 shares of the construction company’s stock after selling 543 shares during the period. United Rentals makes up 2.2% of Morse Asset Management Inc’s holdings, making the stock its 9th largest position. Morse Asset Management Inc’s holdings in United Rentals were worth $9,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. First Financial Corp IN acquired a new stake in shares of United Rentals in the first quarter valued at approximately $25,000. Crewe Advisors LLC bought a new position in United Rentals in the first quarter valued at $27,000. RFP Financial Group LLC increased its stake in United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares during the last quarter. Rise Advisors LLC acquired a new stake in United Rentals in the 1st quarter valued at $28,000. Finally, Riverview Trust Co bought a new stake in United Rentals during the 1st quarter worth about $31,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $783.60 on Monday. United Rentals, Inc. has a 52 week low of $387.01 and a 52 week high of $801.39. The company has a market capitalization of $52.18 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.72 and a beta of 1.68. The company has a 50-day simple moving average of $722.27 and a 200 day simple moving average of $687.29. 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 (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, topping 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business posted $9.88 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.83%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Analysts Set New Price Targets

URI has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Citigroup assumed coverage on United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target on the stock. Evercore ISI increased their price objective on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Truist Financial boosted their target price on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, 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 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $675.15.

Insider Activity at United Rentals

In other United Rentals 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 transaction, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

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.