United Rentals, Inc. (NYSE:URI) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp cut its stake in United Rentals, Inc. (NYSE:URI) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,901 shares of the construction company’s stock after selling 38 shares during the period. Peapack Gladstone Financial Corp’s holdings in United Rentals were worth $3,968,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after purchasing an additional 1,604,715 shares during the last quarter. Marshall Wace LLP raised its stake in United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after buying an additional 108,360 shares in the last quarter. AGF Management Ltd. raised its stake in United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock valued at $67,048,000 after buying an additional 101,547 shares in the last quarter. FMR LLC lifted its holdings in United Rentals by 3.7% during the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of United Rentals by 10.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after acquiring an additional 66,957 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

URI has been the topic of several research analyst reports. Bank of America raised their price objective on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup raised their price target on shares of United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Evercore ISI boosted their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. raised their target price 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. Finally, Argus upped their target price on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $770.00.

Insider Transactions at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $778.82 on Friday. United Rentals, Inc. has a 12-month low of $533.70 and a 12-month high of $896.98. The company has a market cap of $51.11 billion, a PE ratio of 20.34, a P/E/G ratio of 1.83 and a beta of 1.66. The stock has a 50 day simple moving average of $834.29 and a 200-day simple moving average of $748.23. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last announced its quarterly 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). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm posted $11.73 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.84%. United Rentals’s dividend payout ratio (DPR) 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.