Icon Wealth Advisors LLC Buys New Position in United Rentals, Inc. (NYSE:URI)

Icon Wealth Advisors LLC purchased a new position in United Rentals, Inc. (NYSE:URI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,049 shares of the construction company’s stock, valued at approximately $1,659,000.

A number of other large investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of United Rentals by 11.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after buying an additional 964 shares during the last quarter. Essex Financial Services Inc. lifted its position in United Rentals by 31.9% during the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares during the period. Retireful LLC purchased a new stake in United Rentals during the 3rd quarter valued at about $697,000. Mizuho Securities USA LLC increased its holdings in shares of United Rentals by 1,067.5% in the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after purchasing an additional 54,750 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of United Rentals by 241.2% in the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after purchasing an additional 3,435 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Activity

In other news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction that occurred 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 sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $849.03 on Friday. The stock has a market capitalization of $55.71 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.97 and a beta of 1.68. The stock has a 50-day moving average of $819.40 and a 200 day moving average of $731.57. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a twelve month low of $454.71 and a twelve month high of $896.98.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $11.73 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that United Rentals, Inc. will post 43.46 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. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.77%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Robert W. Baird upped their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group upped their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Citigroup raised 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. Evercore ISI upped 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. Finally, JPMorgan Chase & Co. increased their price target on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $751.67.

United Rentals 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.