Intech Investment Management LLC Decreases Holdings in United Rentals, Inc. (NYSE:URI)

Intech Investment Management LLC lowered its holdings in United Rentals, Inc. (NYSE:URI) by 49.8% during the third quarter, HoldingsChannel reports. The fund owned 16,408 shares of the construction company’s stock after selling 16,252 shares during the period. Intech Investment Management LLC’s holdings in United Rentals were worth $13,286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also 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 valued at $1,300,962,000 after purchasing an additional 1,604,715 shares during the last quarter. AMF Tjanstepension AB lifted its stake in United Rentals by 77.7% in the second 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. Marshall Wace LLP boosted its stake in United Rentals by 259.3% during the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after purchasing an additional 108,360 shares during the period. AGF Management Ltd. boosted its stake in shares of United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after buying an additional 101,547 shares during the period. Finally, Swedbank AB acquired a new stake in United Rentals during the 1st quarter worth approximately $41,731,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $840.33 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The company’s fifty day moving average price is $817.01 and its two-hundred day moving average price is $730.42. The firm has a market capitalization of $55.14 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.93 and a beta of 1.68. United Rentals, Inc. has a 12 month low of $454.71 and a 12 month high of $896.98.

United Rentals (NYSE:URI) last issued 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). 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 period in the prior year, the company posted $11.73 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts anticipate that United Rentals, Inc. will post 43.46 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.78%. United Rentals’s dividend payout ratio (DPR) is presently 17.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on URI shares. Evercore ISI lifted their price objective on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Truist Financial increased their target price 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. Bank of America boosted their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Argus lifted their price objective on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, United Rentals currently has an average rating of “Hold” and a consensus price target of $751.67.

Insider Activity at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the business’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 completion of the sale, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.