Raleigh Capital Management Inc. Purchases 30 Shares of United Rentals, Inc. (NYSE:URI)

Raleigh Capital Management Inc. grew its position in United Rentals, Inc. (NYSE:URI) by 61.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79 shares of the construction company’s stock after acquiring an additional 30 shares during the period. Raleigh Capital Management Inc.’s holdings in United Rentals were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Financial Corp IN acquired a new stake in United Rentals in the 1st quarter valued at about $25,000. Crewe Advisors LLC bought a new stake in shares of United Rentals during the first quarter valued at approximately $27,000. RFP Financial Group LLC increased its holdings in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares in the last quarter. Riverview Trust Co bought a new position in United Rentals in the 1st quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC lifted its holdings in United Rentals by 280.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after buying an additional 42 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of URI stock opened at $833.10 on Thursday. 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, Inc. has a 12-month low of $387.01 and a 12-month high of $861.74. The firm has a fifty day moving average of $766.03 and a 200-day moving average of $705.70. The firm has a market capitalization of $55.48 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.94 and a beta of 1.68.

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, topping the consensus estimate of $10.48 by $0.22. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $9.88 earnings per share. On average, equities research analysts forecast that United Rentals, Inc. will post 44.38 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.78%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Wall Street Analysts Forecast Growth

URI has been the subject of several research reports. Truist Financial lifted their target price on United Rentals from $873.00 to $954.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Evercore ISI raised their target price 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. Robert W. Baird boosted their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. 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 objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $714.92.

Insider Buying and Selling at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares of the company’s stock, valued at $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

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.