Ascent Wealth Partners LLC Lowers Stake in United Rentals, Inc. (NYSE:URI)

Ascent Wealth Partners LLC cut its position in shares of United Rentals, Inc. (NYSE:URI) by 3.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 535 shares of the construction company’s stock after selling 20 shares during the quarter. Ascent Wealth Partners LLC’s holdings in United Rentals were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Duncker Streett & Co. Inc. grew its holdings in United Rentals by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock valued at $3,461,000 after purchasing an additional 14 shares during the period. Ameritas Advisory Services LLC increased its position in United Rentals by 3.8% during the second quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock worth $244,000 after purchasing an additional 14 shares during the last quarter. IAM Advisory LLC increased its position in United Rentals by 1.6% during the third quarter. IAM Advisory LLC now owns 900 shares of the construction company’s stock worth $729,000 after purchasing an additional 14 shares during the last quarter. CVA Family Office LLC raised its position in shares of United Rentals by 1.7% in the 3rd quarter. CVA Family Office LLC now owns 844 shares of the construction company’s stock worth $683,000 after buying an additional 14 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in United Rentals by 3.2% in the third quarter. Concurrent Investment Advisors LLC now owns 453 shares of the construction company’s stock valued at $367,000 after acquiring an additional 14 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Down 1.7 %

Shares of NYSE:URI traded down $15.27 during trading on Thursday, hitting $865.05. The company’s stock had a trading volume of 24,203 shares, compared to its average volume of 546,315. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. United Rentals, Inc. has a fifty-two week low of $435.80 and a fifty-two week high of $888.62. The stock’s 50-day moving average price is $786.47 and its two-hundred day moving average price is $717.04. The company has a market capitalization of $56.77 billion, a PE ratio of 22.99, a PEG ratio of 1.84 and a beta of 1.68.

United Rentals (NYSE:URI) last released its quarterly 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). 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 during 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. As a group, sell-side analysts expect that United Rentals, Inc. will post 43.66 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is 17.03%.

Analyst Ratings Changes

A number of research analysts recently weighed in on URI shares. Barclays lifted their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. The Goldman Sachs Group lifted their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America lifted their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Robert W. Baird lifted 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. Finally, Truist Financial lifted their target price on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $742.50.

Insider Activity at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by corporate insiders.

United Rentals Company 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.