Harbor Capital Advisors Inc. Sells 379 Shares of United Rentals, Inc. (NYSE:URI)

Harbor Capital Advisors Inc. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,725 shares of the construction company’s stock after selling 379 shares during the period. Harbor Capital Advisors Inc.’s holdings in United Rentals were worth $3,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in URI. Crewe Advisors LLC bought a new stake in United Rentals during the first quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in United Rentals in the 3rd quarter valued at $31,000. RFP Financial Group LLC grew 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. Carmichael Hill & Associates Inc. lifted its position in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. Finally, HM Payson & Co. acquired a new stake in shares of United Rentals in the third quarter valued at about $41,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on URI. The Goldman Sachs Group increased their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. 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 note on Monday, September 23rd. Barclays raised their price target on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Truist Financial upped their price objective on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their target price on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and a consensus price target of $742.50.

United Rentals Price Performance

Shares of URI stock opened at $793.47 on Monday. The stock’s fifty day simple moving average is $781.33 and its 200 day simple moving average is $713.07. United Rentals, Inc. has a one year low of $419.81 and a one year high of $861.74. The firm has a market cap of $52.07 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 1.90 and a beta of 1.68. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI) last issued 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). The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $11.73 EPS. On average, analysts expect that United Rentals, Inc. will post 43.66 earnings per share 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. Stockholders 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 dividend yield of 0.82%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is 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.