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

Impax Asset Management Group plc reduced its position in United Rentals, Inc. (NYSE:URI) by 99.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,073 shares of the construction company’s stock after selling 582,270 shares during the period. Impax Asset Management Group plc’s holdings in United Rentals were worth $4,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of United Rentals by 82,462.2% during 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 buying an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in United Rentals by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after acquiring an additional 27,708 shares in the last quarter. Capital International Investors acquired a new position in United Rentals during the first quarter worth about $332,349,000. AMF Tjanstepension AB lifted its holdings in shares of 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 purchasing an additional 199,810 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of 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 purchasing an additional 20,481 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. 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 research note on Friday, July 26th. Truist Financial increased their price objective on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird upped their price objective on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Bank of America increased their target price on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, 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 report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and a consensus target price of $742.50.

United Rentals Trading Up 1.5 %

NYSE:URI opened at $798.03 on Wednesday. The stock has a market cap of $52.37 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.68. United Rentals, Inc. has a one year low of $432.82 and a one year high of $861.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The business’s 50-day simple moving average is $782.18 and its 200 day simple moving average is $714.69.

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 analysts’ expectations of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $11.73 earnings per share. As a group, sell-side analysts predict 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. Stockholders of record on Wednesday, November 13th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is currently 17.03%.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated 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 directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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.

United Rentals 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.