Congress Asset Management Co. Decreases Stake in United Rentals, Inc. (NYSE:URI)

Congress Asset Management Co. decreased its holdings in United Rentals, Inc. (NYSE:URI) by 3.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,728 shares of the construction company’s stock after selling 165 shares during the quarter. Congress Asset Management Co.’s holdings in United Rentals were worth $3,828,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of URI. Crewe Advisors LLC acquired a new position in shares of United Rentals in the 1st quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in United Rentals in the third quarter valued at $31,000. RFP Financial Group LLC boosted its stake in United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after acquiring an additional 22 shares during the last quarter. HM Payson & Co. acquired a new position in United Rentals during the 3rd quarter worth $41,000. Finally, HHM Wealth Advisors LLC increased its position in shares of United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on URI. The Goldman Sachs Group increased their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial increased 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. Citigroup boosted their price target on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI upped their price target on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Robert W. Baird lifted their price objective on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and an average target price of $742.50.

United Rentals Trading Down 2.4 %

Shares of NYSE:URI opened at $793.47 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $781.33 and its 200 day moving average price is $712.68. The company has a market cap of $52.07 billion, a PE ratio of 20.72, a P/E/G ratio of 1.90 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $419.81 and a fifty-two week high of $861.74.

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

United Rentals Announces Dividend

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

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.