Kingsview Wealth Management LLC Grows Position in United Rentals, Inc. (NYSE:URI)

Kingsview Wealth Management LLC boosted its stake in shares of United Rentals, Inc. (NYSE:URI) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,914 shares of the construction company’s stock after purchasing an additional 57 shares during the period. Kingsview Wealth Management LLC’s holdings in United Rentals were worth $2,360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in URI. International Assets Investment Management LLC raised its position in shares of United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock worth $412,089,000 after purchasing an additional 27,708 shares during the period. AMF Tjanstepension AB lifted its stake in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after purchasing an additional 199,810 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of United Rentals by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 438,427 shares of the construction company’s stock valued at $355,007,000 after purchasing an additional 5,325 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of United Rentals by 5.7% during the 2nd 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.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is currently owned by company insiders.

United Rentals Stock Performance

United Rentals stock opened at $849.32 on Monday. United Rentals, Inc. has a 52 week low of $454.71 and a 52 week high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The stock has a market cap of $55.73 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.99 and a beta of 1.68. The stock has a 50 day moving average of $819.40 and a 200-day moving average of $732.35.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The company 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 company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $11.73 earnings per share. On average, analysts expect that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on URI. Barclays raised their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Argus lifted their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. increased their price target on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Truist Financial raised their price objective on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Citigroup upped their target price on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $751.67.

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.