Renaissance Investment Group LLC Has $17 Million Position in United Rentals, Inc. (NYSE:URI)

Renaissance Investment Group LLC trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 2.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,988 shares of the construction company’s stock after selling 545 shares during the period. United Rentals comprises approximately 3.5% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 6th biggest position. Renaissance Investment Group LLC’s holdings in United Rentals were worth $16,995,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC bought a new stake in United Rentals during the third quarter worth approximately $243,000. Carnegie Investment Counsel lifted its position in United Rentals by 11.4% in the 3rd quarter. Carnegie Investment Counsel now owns 14,559 shares of the construction company’s stock worth $11,789,000 after buying an additional 1,489 shares in the last quarter. Cardinal Capital Management Inc. purchased a new stake in United Rentals in the 3rd quarter worth approximately $23,672,000. Capital Insight Partners LLC lifted its position in United Rentals by 3.9% in the 3rd quarter. Capital Insight Partners LLC now owns 1,293 shares of the construction company’s stock worth $1,047,000 after buying an additional 48 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its position in United Rentals by 4.0% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 3,194 shares of the construction company’s stock worth $2,586,000 after buying an additional 124 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

NYSE:URI opened at $819.00 on Friday. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $826.24. The firm’s fifty day simple moving average is $744.21 and its 200 day simple moving average is $699.31. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $54.17 billion, a PE ratio of 21.62, a PEG ratio of 1.86 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $9.88 EPS. United Rentals’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.80%. United Rentals’s payout ratio is presently 17.21%.

Analysts Set New Price Targets

A number of research firms have issued reports on URI. Citigroup increased their target price on shares of United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI increased their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Truist Financial increased their price target on shares of United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James started coverage on shares of United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price target on the stock. Finally, Robert W. Baird increased their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, United Rentals has an average rating of “Hold” and an average price target of $714.92.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

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.