Swiss National Bank Sells 1,300 Shares of United Rentals, Inc. (NYSE:URI)

Swiss National Bank trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 197,600 shares of the construction company’s stock after selling 1,300 shares during the quarter. Swiss National Bank owned 0.30% of United Rentals worth $160,003,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Mayflower Financial Advisors LLC increased its stake in shares of United Rentals by 4.0% in the third quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock worth $274,000 after buying an additional 13 shares during the period. Duncker Streett & Co. Inc. increased its stake in shares of United Rentals by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock worth $3,461,000 after buying an additional 14 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of United Rentals by 3.8% in the second quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock worth $244,000 after buying an additional 14 shares during the period. IAM Advisory LLC increased its stake in shares of United Rentals by 1.6% in the third quarter. IAM Advisory LLC now owns 900 shares of the construction company’s stock worth $729,000 after buying an additional 14 shares during the period. Finally, CVA Family Office LLC increased its stake in shares of United Rentals by 1.7% in the third quarter. CVA Family Office LLC now owns 844 shares of the construction company’s stock worth $683,000 after buying an additional 14 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at United Rentals

In other 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 transaction 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 $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Truist Financial upped their target price on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America upped their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays upped their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, United Rentals currently has an average rating of “Hold” and an average target price of $742.50.

United Rentals Price Performance

URI opened at $836.00 on Monday. 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 stock has a market capitalization of $54.86 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.96 and a beta of 1.68. The company’s 50-day simple moving average is $807.10 and its two-hundred day simple moving average is $726.74. United Rentals, Inc. has a 52-week low of $454.71 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last posted its 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 company had revenue of $3.99 billion for 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%. United Rentals’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.73 EPS. As a group, analysts predict that United Rentals, Inc. will post 43.55 EPS 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend 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.