Oppenheimer Asset Management Inc. Grows Stock Holdings in United Rentals, Inc. (NYSE:URI)

Oppenheimer Asset Management Inc. lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,497 shares of the construction company’s stock after purchasing an additional 503 shares during the period. Oppenheimer Asset Management Inc.’s holdings in United Rentals were worth $4,451,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in United Rentals by 82,462.2% in the third 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 acquiring an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in United Rentals by 4.5% in the second 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 during the last quarter. Capital International Investors purchased a new stake in United Rentals in the first quarter valued at $332,349,000. AMF Tjanstepension AB lifted its position 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 acquiring an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position 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. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

URI has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. Barclays lifted their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” 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 company a “buy” rating in a research note on Thursday, October 24th. Citigroup lifted their price objective on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Truist Financial lifted their price objective 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. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and a consensus target price of $742.50.

Insiders Place Their Bets

In other United Rentals 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 of the company’s stock, valued at $1,682,702.56. This 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 the SEC website. 0.53% of the stock is currently owned by company insiders.

United Rentals Trading Down 1.7 %

Shares of United Rentals stock opened at $835.36 on Friday. United Rentals, Inc. has a 52-week low of $454.71 and a 52-week high of $896.98. 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 company’s 50-day simple moving average is $807.10 and its 200-day simple moving average is $725.83. The firm has a market cap of $54.82 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.68.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $11.73 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.78%. United Rentals’s payout ratio is currently 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.