Ascent Wealth Partners LLC Reduces Holdings in United Rentals, Inc. (NYSE:URI)

Ascent Wealth Partners LLC trimmed its stake in United Rentals, Inc. (NYSE:URI) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 535 shares of the construction company’s stock after selling 20 shares during the period. Ascent Wealth Partners LLC’s holdings in United Rentals were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of URI. Crewe Advisors LLC purchased a new position in United Rentals during the 1st quarter worth $27,000. RFP Financial Group LLC grew its position in United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in United Rentals during the 3rd quarter worth $31,000. Carmichael Hill & Associates Inc. grew its position in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its position in United Rentals by 280.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after purchasing an additional 42 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial raised their price objective 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 raised their price objective 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. The Goldman Sachs Group raised their price objective on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Citigroup lifted their target price on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three investment 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $742.50.

Insider Activity at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals 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 transaction, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

United Rentals Price Performance

Shares of NYSE URI traded down $15.27 during midday trading on Thursday, hitting $865.05. The company had a trading volume of 24,203 shares, compared to its average volume of 546,315. 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 $435.80 and a twelve month high of $888.62. The business has a 50-day simple moving average of $786.47 and a two-hundred day simple moving average of $717.04. The firm has a market capitalization of $56.77 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.68.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS 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 company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business earned $11.73 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is 17.03%.

United Rentals Company 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.