Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in United Rentals, Inc. (NYSE:URI)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in United Rentals, Inc. (NYSE:URI) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 176,214 shares of the construction company’s stock after selling 10,175 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.27% of United Rentals worth $142,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. National Wealth Management Group LLC purchased a new position in United Rentals during the 3rd quarter valued at about $765,000. CreativeOne Wealth LLC boosted its position in shares of United Rentals by 24.5% in the third quarter. CreativeOne Wealth LLC now owns 1,933 shares of the construction company’s stock valued at $1,565,000 after acquiring an additional 381 shares during the period. Glenmede Trust Co. NA grew its stake in United Rentals by 4.4% during the third quarter. Glenmede Trust Co. NA now owns 3,914 shares of the construction company’s stock valued at $3,169,000 after acquiring an additional 164 shares in the last quarter. Townsquare Capital LLC increased its holdings in United Rentals by 17.7% during the 3rd quarter. Townsquare Capital LLC now owns 2,383 shares of the construction company’s stock worth $1,930,000 after acquiring an additional 359 shares during the period. Finally, Avestar Capital LLC purchased a new stake in United Rentals in the 3rd quarter worth approximately $276,000. 96.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America boosted their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Citigroup raised their price target on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI boosted their price objective on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Finally, Argus raised their target price 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. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $751.67.

Insiders Place Their Bets

In other news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction that occurred 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 approximately $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Stock Down 1.9 %

Shares of NYSE:URI opened at $856.98 on Thursday. United Rentals, Inc. has a 12-month low of $454.71 and a 12-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 stock’s 50-day moving average price is $823.89 and its 200-day moving average price is $734.81. The stock has a market capitalization of $56.24 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 2.03 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $11.73 earnings per share. On average, equities analysts anticipate that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.76%. United Rentals’s payout ratio is currently 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.