United Rentals, Inc. (NYSE:URI) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 588,343 shares of the construction company’s stock after selling 15,271 shares during the period. United Rentals makes up approximately 1.5% of Impax Asset Management Group plc’s portfolio, making the stock its 14th largest position. Impax Asset Management Group plc’s holdings in United Rentals were worth $379,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors boosted its position in United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after buying an additional 1,799,997 shares during the period. Norges Bank purchased a new stake in shares of United Rentals in the fourth quarter valued at about $977,443,000. Dimensional Fund Advisors LP raised its holdings in shares of United Rentals by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock valued at $714,578,000 after buying an additional 56,948 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in United Rentals by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock worth $372,945,000 after purchasing an additional 11,429 shares in the last quarter. Finally, Capital International Investors purchased a new position in United Rentals during the first quarter worth about $332,349,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on URI. Truist Financial upped their target price on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Evercore ISI increased their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. started coverage on shares of United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 price target on the stock. Citigroup started coverage on shares of United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $675.15.

United Rentals Stock Up 1.2 %

URI stock traded up $8.08 during mid-day trading on Friday, hitting $705.60. 14,941 shares of the company were exchanged, compared to its average volume of 556,387. The company has a market capitalization of $46.99 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.71 and a beta of 1.68. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $789.80. The firm has a fifty day simple moving average of $703.03 and a 200 day simple moving average of $682.32.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business posted $9.88 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that United Rentals, Inc. will post 44.5 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.92%. United Rentals’s dividend payout ratio is presently 17.66%.

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.