Trustmark National Bank Trust Department Acquires 58 Shares of United Rentals, Inc. (NYSE:URI)

Trustmark National Bank Trust Department raised its position in United Rentals, Inc. (NYSE:URI) by 0.9% during the third quarter, Holdings Channel.com reports. The fund owned 6,822 shares of the construction company’s stock after purchasing an additional 58 shares during the quarter. Trustmark National Bank Trust Department’s holdings in United Rentals were worth $5,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Moors & Cabot Inc. increased its stake in shares of United Rentals by 1.8% during the third quarter. Moors & Cabot Inc. now owns 17,580 shares of the construction company’s stock valued at $14,235,000 after buying an additional 309 shares during the period. Retireful LLC purchased a new position in shares of United Rentals during the third quarter valued at about $697,000. First Horizon Advisors Inc. lifted its holdings in United Rentals by 3.5% in the third quarter. First Horizon Advisors Inc. now owns 565 shares of the construction company’s stock worth $458,000 after buying an additional 19 shares during the period. Advisors Asset Management Inc. boosted its position in United Rentals by 2.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,630 shares of the construction company’s stock valued at $11,846,000 after acquiring an additional 365 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. grew its holdings in shares of United Rentals by 9.8% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 8,970 shares of the construction company’s stock worth $7,263,000 after acquiring an additional 800 shares during the period. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the topic of several research reports. Robert W. Baird lifted their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target 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 boosted their target price on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI raised their price target 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. Finally, Truist Financial lifted their target price on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $751.67.

United Rentals Price Performance

NYSE URI opened at $820.25 on Thursday. The business’s fifty day moving average is $814.46 and its 200 day moving average is $729.65. United Rentals, Inc. has a fifty-two week low of $454.71 and a fifty-two week high of $896.98. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The company has a market capitalization of $53.82 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.93 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $11.73 earnings per share. Sell-side analysts predict that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $1.63 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.79%. United Rentals’s payout ratio is currently 17.03%.

Insider Transactions at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals 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 owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

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.