QRG Capital Management Inc. Has $22.61 Million Stock Position in United Rentals, Inc. (NYSE:URI)

QRG Capital Management Inc. decreased its stake in shares of United Rentals, Inc. (NYSE:URI) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,925 shares of the construction company’s stock after selling 1,945 shares during the period. QRG Capital Management Inc.’s holdings in United Rentals were worth $22,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake 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 purchasing an additional 1,604,715 shares in the last quarter. The Manufacturers Life Insurance Company boosted 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 buying an additional 27,708 shares during the last quarter. Capital International Investors acquired a new stake in shares of United Rentals in the 1st quarter valued at approximately $332,349,000. AMF Tjanstepension AB boosted its holdings in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after buying an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in United Rentals by 5.7% in the 2nd quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock valued at $247,001,000 after acquiring an additional 20,481 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of NYSE:URI traded up $6.51 during trading on Monday, hitting $799.98. 25,351 shares of the company were exchanged, compared to its average volume of 539,747. The business’s 50 day moving average is $781.33 and its 200-day moving average is $713.07. The company has a market capitalization of $52.50 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.90 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, Inc. has a 1-year low of $432.82 and a 1-year high of $861.74.

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). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $11.73 EPS. Equities analysts forecast that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Dividend Announcement

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 issued a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a yield of 0.82%. United Rentals’s payout ratio is 17.03%.

Insider Buying and Selling at United Rentals

In other 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial increased their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird increased their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank of America raised their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, 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 report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and a consensus price target of $742.50.

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.