Synovus Financial Corp Has $513,000 Stake in United Rentals, Inc. (NYSE:URI)

Synovus Financial Corp lifted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 634 shares of the construction company’s stock after buying an additional 49 shares during the quarter. Synovus Financial Corp’s holdings in United Rentals were worth $513,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Mayflower Financial Advisors LLC grew its position in shares of United Rentals by 4.0% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock worth $274,000 after buying an additional 13 shares during the period. Allen Capital Group LLC grew its position in shares of United Rentals by 4.2% during the 3rd quarter. Allen Capital Group LLC now owns 324 shares of the construction company’s stock worth $262,000 after buying an additional 13 shares during the period. First County Bank CT grew its position in shares of United Rentals by 3.2% during the 3rd quarter. First County Bank CT now owns 422 shares of the construction company’s stock worth $342,000 after buying an additional 13 shares during the period. Duncker Streett & Co. Inc. grew its position in shares of United Rentals by 0.3% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock worth $3,461,000 after buying an additional 14 shares during the period. Finally, Ameritas Advisory Services LLC grew its position in shares of United Rentals by 3.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock worth $244,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI opened at $758.39 on Wednesday. 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 twelve month low of $533.70 and a twelve month high of $896.98. The firm’s 50 day moving average price is $832.70 and its two-hundred day moving average price is $750.33. The firm has a market cap of $49.77 billion, a P/E ratio of 19.81, a PEG ratio of 1.83 and a beta of 1.66.

United Rentals (NYSE:URI) last announced 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). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $11.73 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals’s dividend payout ratio is presently 17.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on URI shares. Citigroup lifted their price target on shares of United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird boosted their price objective on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Bank of America boosted their price objective 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. Argus boosted their price objective on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Truist Financial boosted their price objective 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 equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $770.00.

Insider Transactions at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the business’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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is currently owned by insiders.

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.