United Rentals, Inc. (NYSE:URI) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 6.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,545 shares of the construction company’s stock after selling 3,968 shares during the quarter. PNC Financial Services Group Inc. owned about 0.09% of United Rentals worth $49,835,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in URI. Crewe Advisors LLC acquired a new position in shares of United Rentals in the 1st quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in United Rentals in the third quarter valued at $31,000. RFP Financial Group LLC grew its holdings in shares of United Rentals by 115.8% during the second 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. Carmichael Hill & Associates Inc. increased its position in shares of United Rentals by 80.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Finally, HM Payson & Co. purchased a new stake in shares of United Rentals in the 3rd quarter valued at about $41,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on URI. Robert W. Baird raised their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Truist Financial lifted their target price on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America increased their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted 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 increased their target price 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $751.67.

United Rentals Trading Down 0.1 %

Shares of URI opened at $820.25 on Thursday. United Rentals, Inc. has a twelve month low of $454.71 and a twelve month high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $53.82 billion, a P/E ratio of 21.42, a PEG ratio of 1.96 and a beta of 1.68. The firm’s 50-day moving average is $814.46 and its two-hundred day moving average is $729.65.

United Rentals (NYSE:URI) last released 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). The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $11.73 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 43.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is presently 17.03%.

Insider Activity

In other news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.49% of the company’s stock.

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.