MWA Asset Management Trims Holdings in United Rentals, Inc. (NYSE:URI)

MWA Asset Management reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 3,551 shares of the construction company’s stock after selling 47 shares during the period. United Rentals accounts for approximately 1.9% of MWA Asset Management’s holdings, making the stock its 13th largest position. MWA Asset Management’s holdings in United Rentals were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings 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 acquiring an additional 1,604,715 shares in the last quarter. The Manufacturers Life Insurance Company raised 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 purchasing an additional 27,708 shares in the last quarter. Capital International Investors purchased a new stake in shares of United Rentals in the 1st quarter worth approximately $332,349,000. AMF Tjanstepension AB boosted its stake in shares of United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after purchasing an additional 199,810 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of United Rentals by 5.7% during 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 institutional investors.

Insider Activity at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction on 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 sale, the senior vice president now 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on URI. Barclays increased their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Robert W. Baird upped their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Citigroup boosted their target price 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. Finally, Truist Financial raised their price target on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $742.50.

United Rentals Stock Down 1.4 %

URI stock opened at $821.16 on Wednesday. The company’s 50 day moving average price is $812.18 and its 200 day moving average price is $729.02. The firm has a market capitalization of $53.88 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.96 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $454.71 and a fifty-two week high of $896.98. 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 (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the firm earned $11.73 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that United Rentals, Inc. will post 43.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.79%. United Rentals’s dividend payout ratio (DPR) is presently 17.03%.

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.