Avestar Capital LLC Takes $276,000 Position in United Rentals, Inc. (NYSE:URI)

Avestar Capital LLC bought a new stake in United Rentals, Inc. (NYSE:URI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 341 shares of the construction company’s stock, valued at approximately $276,000.

Other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of United Rentals in the 3rd quarter valued at $31,000. RFP Financial Group LLC increased its stake in United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares during the period. Carmichael Hill & Associates Inc. increased its stake in United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after buying an additional 20 shares during the period. HM Payson & Co. acquired a new position in United Rentals in the 3rd quarter valued at $41,000. Finally, HHM Wealth Advisors LLC increased its stake in United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after buying an additional 42 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on URI. JPMorgan Chase & Co. boosted 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. Robert W. Baird boosted their price objective on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Argus boosted their price objective on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays boosted 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, Truist Financial boosted 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. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $751.67.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the 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 completion of the sale, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $856.98 on Thursday. 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 firm’s 50-day simple moving average is $823.89 and its 200 day simple moving average is $734.81. The firm has a market capitalization of $56.24 billion, a PE ratio of 22.38, a P/E/G ratio of 2.03 and a beta of 1.68.

United Rentals (NYSE:URI) last announced 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 net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the firm posted $11.73 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

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.