Impax Asset Management Group plc Sells 582,270 Shares of United Rentals, Inc. (NYSE:URI)

Impax Asset Management Group plc cut its stake in United Rentals, Inc. (NYSE:URI) by 99.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,073 shares of the construction company’s stock after selling 582,270 shares during the period. Impax Asset Management Group plc’s holdings in United Rentals were worth $4,917,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sycomore Asset Management grew its holdings in United Rentals by 21.4% during the 3rd quarter. Sycomore Asset Management now owns 7,927 shares of the construction company’s stock worth $6,363,000 after acquiring an additional 1,397 shares in the last quarter. ING Groep NV grew its holdings in United Rentals by 413.3% during the 3rd quarter. ING Groep NV now owns 3,906 shares of the construction company’s stock worth $3,163,000 after acquiring an additional 3,145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in United Rentals by 1.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,027 shares of the construction company’s stock worth $1,641,000 after acquiring an additional 21 shares in the last quarter. Metis Global Partners LLC grew its holdings in United Rentals by 4.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,685 shares of the construction company’s stock worth $2,174,000 after acquiring an additional 116 shares in the last quarter. Finally, KBC Group NV grew its holdings in United Rentals by 2.2% during the 3rd quarter. KBC Group NV now owns 13,550 shares of the construction company’s stock worth $10,971,000 after acquiring an additional 297 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Trading Down 1.7 %

Shares of United Rentals stock opened at $835.36 on Friday. The company has a market capitalization of $54.82 billion, a P/E ratio of 21.82, a PEG ratio of 2.01 and a beta of 1.68. The company’s fifty day moving average is $807.10 and its two-hundred day moving average is $725.83. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. United Rentals, Inc. has a 1 year low of $454.71 and a 1 year high of $896.98.

United Rentals (NYSE:URI) last announced 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). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $11.73 EPS. Analysts forecast that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is currently 17.03%.

Analyst Upgrades and Downgrades

URI has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. 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 report on Monday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Citigroup increased their price objective on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Truist Financial increased their price objective 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 research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals has an average rating of “Hold” and an average target price of $742.50.

Insiders Place Their Bets

In related news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.

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.