United Rentals, Inc. (NYSE:URI) Shares Bought by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,497 shares of the construction company’s stock after purchasing an additional 205 shares during the period. United Rentals comprises approximately 1.6% of Great Lakes Retirement Inc.’s portfolio, making the stock its 15th largest holding. Great Lakes Retirement Inc.’s holdings in United Rentals were worth $12,548,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in United Rentals by 82,462.2% in the third 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 increased its holdings in shares of United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after acquiring an additional 27,708 shares during the last quarter. Capital International Investors acquired a new stake in shares of United Rentals during the 1st quarter worth about $332,349,000. AMF Tjanstepension AB lifted its stake in United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after purchasing an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in United Rentals by 5.7% in the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock valued at $247,001,000 after purchasing an additional 20,481 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on URI shares. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Citigroup raised their target price on shares of United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price objective on United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Evercore ISI raised their price objective on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and a consensus target price of $714.92.

United Rentals Trading Down 1.7 %

NYSE:URI opened at $833.10 on Thursday. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $861.74. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The business has a 50 day simple moving average of $768.65 and a 200 day simple moving average of $706.59. The firm has a market capitalization of $55.10 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.96 and a beta of 1.68.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping the consensus estimate of $10.48 by $0.22. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.88 earnings per share. Equities research analysts predict that United Rentals, Inc. will post 44.38 EPS 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 paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.78%. United Rentals’s payout ratio is currently 17.21%.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $2,822,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.