Legacy Capital Wealth Partners LLC Cuts Stock Position in United Rentals, Inc. (NYSE:URI)

Legacy Capital Wealth Partners LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 19.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290 shares of the construction company’s stock after selling 69 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in United Rentals were worth $235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in United Rentals by 33.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,040 shares of the construction company’s stock valued at $1,471,000 after buying an additional 515 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in United Rentals by 22.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 1,951 shares of the construction company’s stock valued at $1,407,000 after buying an additional 362 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of United Rentals during the 1st quarter worth about $251,000. Concurrent Investment Advisors LLC boosted its holdings in shares of United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock valued at $301,000 after acquiring an additional 15 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of United Rentals during the first quarter valued at approximately $239,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,682,702.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on URI shares. Barclays boosted their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Bank of America lifted their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Truist Financial boosted their price target 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 research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $742.50.

United Rentals Stock Down 0.1 %

URI stock opened at $873.88 on Tuesday. The firm has a 50-day moving average price of $794.45 and a 200-day moving average price of $721.90. The stock has a market capitalization of $57.35 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 2.04 and a beta of 1.68. United Rentals, Inc. has a 12 month low of $453.23 and a 12 month high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted 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 return on equity of 34.73% and a net margin of 17.12%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.73 earnings per share. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.66 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) 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.