Patton Albertson Miller Group LLC Reduces Stock Holdings in United Rentals, Inc. (NYSE:URI)

Patton Albertson Miller Group LLC cut its holdings in United Rentals, Inc. (NYSE:URI) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,759 shares of the construction company’s stock after selling 1,349 shares during the quarter. United Rentals makes up about 1.6% of Patton Albertson Miller Group LLC’s holdings, making the stock its 7th biggest holding. Patton Albertson Miller Group LLC’s holdings in United Rentals were worth $11,951,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of URI. International Assets Investment Management LLC grew its stake in shares of 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 worth $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after purchasing an additional 66,957 shares during the last quarter. AMF Tjanstepension AB lifted its holdings 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. Charles Schwab Investment Management Inc. boosted its position in shares of United Rentals by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 438,427 shares of the construction company’s stock valued at $355,007,000 after buying an additional 5,325 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in United Rentals by 5.7% in the 2nd quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after buying an additional 20,481 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other United Rentals 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 owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.49% of the company’s stock.

United Rentals Price Performance

NYSE:URI opened at $864.39 on Tuesday. The business’s 50-day simple moving average is $821.86 and its two-hundred day simple moving average is $733.58. United Rentals, Inc. has a 52 week low of $454.71 and a 52 week high of $896.98. The stock has a market cap of $56.72 billion, a PE ratio of 22.57, a P/E/G ratio of 1.99 and a beta of 1.68. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 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 during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm posted $11.73 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on URI. JPMorgan Chase & Co. raised their price target 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. Bank of America raised their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI boosted their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Citigroup raised their price target on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Barclays increased their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, United Rentals has an average rating of “Hold” and an average target price of $751.67.

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.