Huntington National Bank Acquires 51 Shares of United Rentals, Inc. (NYSE:URI)

Huntington National Bank lifted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 354 shares of the construction company’s stock after acquiring an additional 51 shares during the period. Huntington National Bank’s holdings in United Rentals were worth $287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in URI. Mirae Asset Global Investments Co. Ltd. increased its holdings in United Rentals by 11.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock worth $7,492,000 after purchasing an additional 964 shares in the last quarter. Essex Financial Services Inc. raised its position in United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after buying an additional 136 shares during the last quarter. Tidal Investments LLC lifted its stake in United Rentals by 241.2% during the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after acquiring an additional 3,435 shares in the last quarter. BDF Gestion purchased a new position in United Rentals during the 2nd quarter worth $2,998,000. Finally, Orion Portfolio Solutions LLC grew its stake in shares of United Rentals by 48.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,129 shares of the construction company’s stock worth $2,256,000 after acquiring an additional 1,016 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Trading Down 1.6 %

Shares of URI stock opened at $836.00 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. United Rentals, Inc. has a 1 year low of $454.71 and a 1 year high of $896.98. The stock has a market capitalization of $54.86 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.99 and a beta of 1.68. The company’s fifty day simple moving average is $807.10 and its two-hundred day simple moving average is $726.23.

United Rentals (NYSE:URI) last announced its quarterly 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 net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company earned $11.73 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that United Rentals, Inc. will post 43.55 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.78%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Insider Activity at United Rentals

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

Analysts Set New Price Targets

A number of research firms recently weighed in on URI. The Goldman Sachs Group raised their price target on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America upped their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays lifted their price target on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Truist Financial upped 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. Finally, Citigroup lifted their target price on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $742.50.

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.