Verdence Capital Advisors LLC Buys 1,643 Shares of United Rentals, Inc. (NYSE:URI)

Verdence Capital Advisors LLC lifted its position in United Rentals, Inc. (NYSE:URI) by 32.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,640 shares of the construction company’s stock after acquiring an additional 1,643 shares during the period. Verdence Capital Advisors LLC’s holdings in United Rentals were worth $5,376,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in United Rentals during the 1st quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of United Rentals during the third quarter valued at $31,000. RFP Financial Group LLC grew its holdings in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares during the last quarter. Carmichael Hill & Associates Inc. increased its stake in United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after buying an additional 20 shares during the period. Finally, HM Payson & Co. bought a new stake in United Rentals during the 3rd quarter valued at about $41,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Up 1.4 %

United Rentals stock opened at $874.75 on Friday. The business has a fifty day moving average price of $791.80 and a 200-day moving average price of $719.75. United Rentals, Inc. has a 1-year low of $435.80 and a 1-year high of $888.62. The stock has a market capitalization of $57.40 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.06 and a beta of 1.68. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI) last issued its quarterly earnings results 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 business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.73 EPS. Equities research analysts forecast that United Rentals, Inc. will post 43.66 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.75%. United Rentals’s payout ratio is currently 17.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on URI. Robert W. Baird raised their target price 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. Evercore ISI lifted their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Bank of America increased their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays upped their price objective on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Truist Financial raised their target price on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $742.50.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the firm’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 transaction, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

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.