Douglas Lane & Associates LLC Has $10.67 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Douglas Lane & Associates LLC reduced its stake in United Rentals, Inc. (NYSE:URI) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,499 shares of the construction company’s stock after selling 661 shares during the quarter. Douglas Lane & Associates LLC’s holdings in United Rentals were worth $10,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC lifted its stake in shares of United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock worth $301,000 after acquiring an additional 15 shares during the period. Hoylecohen LLC increased its holdings in United Rentals by 1.4% in the fourth quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock worth $667,000 after purchasing an additional 16 shares in the last quarter. Ballentine Partners LLC increased its holdings in United Rentals by 2.1% in the fourth quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock worth $510,000 after purchasing an additional 18 shares in the last quarter. DGS Capital Management LLC increased its holdings in United Rentals by 1.3% in the fourth quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock worth $827,000 after purchasing an additional 18 shares in the last quarter. Finally, Choreo LLC increased its holdings in United Rentals by 1.3% in the first quarter. Choreo LLC now owns 1,456 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 18 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

URI has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. JPMorgan Chase & Co. initiated coverage on United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price for the company. Citigroup initiated coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. The Goldman Sachs Group lifted their target price on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Truist Financial boosted their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $670.92.

United Rentals Stock Performance

Shares of NYSE URI traded up $13.11 during trading on Tuesday, reaching $681.72. 438,530 shares of the stock traded hands, compared to its average volume of 590,867. United Rentals, Inc. has a 52-week low of $387.01 and a 52-week high of $789.80. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The company has a 50-day moving average of $669.21 and a 200-day moving average of $671.02. The stock has a market capitalization of $45.09 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 2.00 and a beta of 1.71.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts forecast that United Rentals, Inc. will post 44.35 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be paid a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. United Rentals’s payout ratio is 17.66%.

Insider Activity at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.