Pinnacle Financial Partners Inc Takes Position in United Rentals, Inc. (NYSE:URI)

Pinnacle Financial Partners Inc purchased a new position in United Rentals, Inc. (NYSE:URI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 321 shares of the construction company’s stock, valued at approximately $260,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after buying an additional 964 shares during the period. Essex Financial Services Inc. increased its stake in United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after acquiring an additional 136 shares during the last quarter. Tidal Investments LLC raised its position in United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after purchasing an additional 3,435 shares in the last quarter. BDF Gestion bought a new stake in United Rentals during the second quarter worth $2,998,000. Finally, Orion Portfolio Solutions LLC boosted its holdings 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 valued at $2,256,000 after purchasing an additional 1,016 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity

In other news, SVP Anthony S. Leopold sold 900 shares of the business’s 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 transaction, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $849.60 on Friday. The company has a market capitalization of $55.75 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.01 and a beta of 1.68. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a twelve month low of $454.71 and a twelve month high of $896.98. The stock has a fifty day simple moving average of $804.01 and a 200 day simple moving average of $724.97.

United Rentals (NYSE:URI) last issued 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). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $11.73 EPS. Sell-side analysts expect that United Rentals, Inc. will post 43.66 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.77%. United Rentals’s dividend payout ratio (DPR) is currently 17.03%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Citigroup increased their target price on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays lifted their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Evercore ISI raised their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.