Harbour Investments Inc. Raises Stock Position in United Rentals, Inc. (NYSE:URI)

Harbour Investments Inc. raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,560 shares of the construction company’s stock after purchasing an additional 107 shares during the quarter. Harbour Investments Inc.’s holdings in United Rentals were worth $1,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in URI. International Assets Investment Management LLC grew its position in shares of United Rentals by 82,462.2% in 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 period. The Manufacturers Life Insurance Company grew its position in shares of United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock worth $412,089,000 after buying an additional 27,708 shares during the period. Capital International Investors purchased a new stake in shares of United Rentals in the 1st quarter worth about $332,349,000. AMF Tjanstepension AB grew its position in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of United Rentals by 5.7% in the 2nd quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after buying an additional 20,481 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

URI has been the topic of several recent analyst reports. Robert W. Baird increased their price objective 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. Evercore ISI increased their price objective 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. 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 report on Monday, September 23rd. Barclays increased their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, Citigroup increased their price objective on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $742.50.

United Rentals Price Performance

Shares of NYSE:URI opened at $849.60 on Friday. The firm’s 50 day moving average price is $804.01 and its 200-day moving average price is $724.97. United Rentals, Inc. has a twelve month low of $454.71 and a twelve month 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 stock has a market capitalization of $55.75 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.68.

United Rentals (NYSE:URI) last issued its quarterly earnings data 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 business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $11.73 EPS. United Rentals’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts expect that United Rentals, Inc. will post 43.66 EPS for the current year.

United Rentals Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is 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.