United Rentals, Inc. (NYSE:URI) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lowered its holdings in United Rentals, Inc. (NYSE:URI) by 0.7% during the third quarter, Holdings Channel.com reports. The firm owned 13,875 shares of the construction company’s stock after selling 103 shares during the period. United Rentals accounts for about 2.4% of Morse Asset Management Inc’s portfolio, making the stock its 8th largest position. Morse Asset Management Inc’s holdings in United Rentals were worth $11,235,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of United Rentals by 10.5% during the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock valued at $570,167,000 after acquiring an additional 66,957 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of United Rentals by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 438,427 shares of the construction company’s stock valued at $355,007,000 after purchasing an additional 5,325 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in United Rentals by 5.7% in the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock valued at $247,001,000 after acquiring an additional 20,481 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on URI shares. Argus upped their price objective on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Citigroup upped their price target on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America lifted their price objective on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Truist Financial upped their target price on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus target price of $751.67.

United Rentals Stock Up 1.4 %

United Rentals stock opened at $869.17 on Wednesday. The company’s 50-day moving average price is $829.62 and its two-hundred day moving average price is $739.40. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The stock has a market cap of $57.03 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.01 and a beta of 1.66. United Rentals, Inc. has a twelve month low of $474.56 and a twelve month high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $11.73 earnings per share. As a group, analysts expect that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

Insiders Place Their Bets

In related news, SVP Anthony S. Leopold sold 900 shares of the firm’s 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 transaction, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.49% of the company’s stock.

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.