Pitcairn Co. Lowers Holdings in United Rentals, Inc. (NYSE:URI)

Pitcairn Co. cut its position in United Rentals, Inc. (NYSE:URI) by 21.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,710 shares of the construction company’s stock after selling 478 shares during the quarter. Pitcairn Co.’s holdings in United Rentals were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 worth $7,492,000 after purchasing an additional 964 shares in the last quarter. Essex Financial Services Inc. increased its holdings in shares of United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after buying an additional 136 shares during the last quarter. Retireful LLC bought a new position in shares of United Rentals in the 3rd quarter worth $697,000. Mizuho Securities USA LLC increased its holdings in shares of United Rentals by 1,067.5% in 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, Tidal Investments LLC increased its holdings in shares of United Rentals by 241.2% in the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after buying an additional 3,435 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on URI shares. Citigroup increased their price target on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Argus increased their price target on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Truist Financial increased their price target on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Bank of America increased their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $751.67.

United Rentals Price Performance

Shares of United Rentals stock opened at $849.32 on Friday. The firm has a market cap of $55.73 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.68. United Rentals, Inc. has a 12-month low of $454.71 and a 12-month high of $896.98. 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 fifty day simple moving average is $819.40 and its two-hundred day simple moving average is $731.97.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the business posted $11.73 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.77%. United Rentals’s dividend payout ratio is 17.03%.

United Rentals Company 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.