LPL Financial LLC Grows Position in United Rentals, Inc. (NYSE:URI)

LPL Financial LLC boosted its stake in shares of United Rentals, Inc. (NYSE:URI) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,946 shares of the construction company’s stock after purchasing an additional 9,684 shares during the period. LPL Financial LLC owned approximately 0.19% of United Rentals worth $101,173,000 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 boosted its holdings in United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 valued at $412,089,000 after purchasing an additional 27,708 shares in the last quarter. AMF Tjanstepension AB grew its holdings in shares of United Rentals by 77.7% during the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after purchasing an additional 199,810 shares during the period. 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. Finally, Thrivent Financial for Lutherans raised its holdings in United Rentals by 4.4% in the second quarter. Thrivent Financial for Lutherans now owns 334,179 shares of the construction company’s stock valued at $216,123,000 after buying an additional 13,970 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Trading Up 1.0 %

URI opened at $849.32 on Friday. United Rentals, Inc. has a 12-month low of $454.71 and a 12-month high of $896.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The stock has a market capitalization of $55.73 billion, a PE ratio of 22.18, a P/E/G ratio of 1.97 and a beta of 1.68. The firm’s fifty day moving average price is $819.40 and its 200 day moving average price is $731.97.

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

United Rentals Dividend Announcement

The company 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 payout ratio is 17.03%.

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 transaction, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on URI. Citigroup boosted their price objective on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Truist Financial increased their price target on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Argus upped their target price on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird raised their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $751.67.

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.