Red Cedar Investment Management LLC Has $3.11 Million Stake in United Rentals, Inc. (NYSE:URI)

Red Cedar Investment Management LLC grew its position in United Rentals, Inc. (NYSE:URI) by 56.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,840 shares of the construction company’s stock after purchasing an additional 1,382 shares during the period. Red Cedar Investment Management LLC’s holdings in United Rentals were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC boosted 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 valued at $1,300,962,000 after buying an additional 1,604,715 shares during the period. The Manufacturers Life Insurance Company lifted its stake in United Rentals by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock worth $412,089,000 after purchasing an additional 27,708 shares during the last quarter. Capital International Investors bought a new stake in United Rentals during the first quarter worth $332,349,000. AMF Tjanstepension AB lifted its stake in United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after purchasing an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in United Rentals by 5.7% during the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after purchasing an additional 20,481 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on URI. Citigroup upped their target price on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Evercore ISI upped their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Truist Financial upped their price target on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Bank of America upped their price target 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. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $742.50.

Insider Buying and Selling at United Rentals

In other United Rentals 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 transaction 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

United Rentals Stock Up 0.1 %

NYSE URI traded up $0.71 during trading hours on Monday, hitting $794.18. The company’s stock had a trading volume of 100,794 shares, compared to its average volume of 540,101. United Rentals, Inc. has a 52 week low of $432.82 and a 52 week high of $861.74. The company’s 50-day simple moving average is $781.33 and its two-hundred day simple moving average is $713.07. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $52.12 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68.

United Rentals (NYSE:URI) last released its quarterly earnings data 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 business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $11.73 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that United Rentals, Inc. will post 43.66 EPS for the current fiscal year.

United Rentals Announces Dividend

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 of this dividend 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%.

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.