Pinnacle Financial Partners Inc Makes New Investment in United Rentals, Inc. (NYSE:URI)

Pinnacle Financial Partners Inc acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 321 shares of the construction company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in URI. Crewe Advisors LLC acquired a new position in United Rentals during the 1st quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals during the third quarter valued at approximately $31,000. RFP Financial Group LLC raised its position in shares of United Rentals by 115.8% during the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares during the period. Carmichael Hill & Associates Inc. lifted its holdings in shares of United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Finally, HM Payson & Co. acquired a new stake in United Rentals in the 3rd quarter valued at $41,000. Institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Citigroup raised their price target on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Truist Financial boosted their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Evercore ISI raised their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Barclays lifted their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research 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 issued a buy rating to the stock. According to MarketBeat, United Rentals currently has an average rating of “Hold” and an average price target of $742.50.

Insiders Place Their Bets

In other 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 transaction of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

United Rentals Price Performance

Shares of NYSE:URI opened at $849.60 on Friday. The company has a market capitalization of $55.75 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.01 and a beta of 1.68. The company’s 50-day moving average is $804.01 and its 200 day moving average is $724.97. 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 fifty-two week low of $454.71 and a fifty-two week high of $896.98.

United Rentals (NYSE:URI) last released its 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 analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the firm earned $11.73 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently disclosed 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. This represents a $6.52 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is 17.03%.

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.