Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in United Rentals, Inc. (NYSE:URI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 5.5% during the third quarter, Holdings Channel reports. The fund owned 176,214 shares of the construction company’s stock after selling 10,175 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Rentals were worth $142,686,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its stake in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of United Rentals by 82,462.2% during the 3rd 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 buying an additional 1,604,715 shares in the last quarter. 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 buying an additional 66,957 shares during the period. AMF Tjanstepension AB increased its stake in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after acquiring an additional 199,810 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in United Rentals by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 438,427 shares of the construction company’s stock valued at $355,007,000 after acquiring an additional 5,325 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Anthony S. Leopold sold 900 shares of the company’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 completion of the sale, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $856.98 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The company has a 50 day moving average price of $823.89 and a 200-day moving average price of $734.81. United Rentals, Inc. has a 52 week low of $454.71 and a 52 week high of $896.98. The firm has a market capitalization of $56.24 billion, a PE ratio of 22.38, a P/E/G ratio of 2.03 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 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 the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $11.73 EPS. As a group, equities research analysts expect that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Wednesday, November 13th. United Rentals’s dividend payout ratio is 17.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on URI. Citigroup upped their price objective on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Truist Financial boosted 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. Argus raised their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Bank of America upped their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $751.67.

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.