United Rentals, Inc. (NYSE:URI) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,511 shares of the construction company’s stock after buying an additional 244 shares during the quarter. M&T Bank Corp’s holdings in United Rentals were worth $4,463,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in 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 worth $1,300,962,000 after purchasing an additional 1,604,715 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after buying an additional 108,360 shares in the last quarter. AGF Management Ltd. raised its position in shares of United Rentals by 4,778.7% in 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 during the last quarter. FMR LLC lifted its stake in shares of United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after buying an additional 85,325 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in United Rentals by 10.5% during the third 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 during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on URI. Citigroup increased their price target on United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America raised their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI upped their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Truist Financial raised their target price on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $770.00.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

United Rentals Stock Performance

Shares of URI stock opened at $786.30 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The company has a market cap of $51.60 billion, a PE ratio of 20.54, a P/E/G ratio of 1.87 and a beta of 1.66. The company’s fifty day simple moving average is $834.50 and its 200-day simple moving average is $746.93. United Rentals, Inc. has a 52 week low of $504.65 and a 52 week high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings data 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 net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business earned $11.73 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Announces Dividend

The business also recently declared 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 0.83%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals’s dividend payout ratio is presently 17.03%.

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.