United Rentals, Inc. (NYSE:URI) Holdings Cut by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its stake in United Rentals, Inc. (NYSE:URI) by 99.0% in the third quarter, HoldingsChannel.com reports. The fund owned 6,073 shares of the construction company’s stock after selling 582,270 shares during the quarter. Impax Asset Management Group plc’s holdings in United Rentals were worth $4,917,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in URI. International Assets Investment Management LLC lifted its holdings in shares of United Rentals by 82,462.2% in 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 during the last quarter. Capital International Investors bought a new stake in United Rentals in the first quarter valued at $332,349,000. AMF Tjanstepension AB boosted 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 acquiring an additional 199,810 shares during the period. Marshall Wace LLP grew its position in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after acquiring an additional 108,360 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in shares of United Rentals by 4,778.7% in the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after acquiring an additional 101,547 shares during the period. 96.26% of the stock is owned by institutional investors.

United Rentals Price Performance

Shares of NYSE URI opened at $798.03 on Wednesday. United Rentals, Inc. has a twelve month low of $432.82 and a twelve month high of $861.74. 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 firm has a 50-day moving average of $782.18 and a two-hundred day moving average of $714.69. The company has a market capitalization of $52.37 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.84 and a beta of 1.68.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $11.73 earnings per share. As a group, analysts expect that United Rentals, Inc. will post 43.66 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Insider Transactions at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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. Barclays boosted their price objective on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Robert W. Baird raised 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. Citigroup boosted their price target on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Truist Financial raised their price target on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $742.50.

About United Rentals

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.