Barings LLC Cuts Holdings in United Rentals, Inc. (NYSE:URI)

Barings LLC cut its position in shares of United Rentals, Inc. (NYSE:URI) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,437 shares of the construction company’s stock after selling 16 shares during the quarter. Barings LLC’s holdings in United Rentals were worth $1,576,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Essex Financial Services Inc. grew its stake in United Rentals by 31.9% during the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after buying an additional 136 shares during the period. Nomura Holdings Inc. purchased a new position in United Rentals in the fourth quarter valued at about $780,000. Forsta AP Fonden lifted its stake in shares of United Rentals by 2.8% during the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock worth $10,528,000 after purchasing an additional 400 shares in the last quarter. Tidal Investments LLC grew its stake in shares of United Rentals by 241.2% in the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after buying an additional 3,435 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of United Rentals during the 4th quarter valued at about $779,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction dated Friday, August 2nd. The shares were 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 $2,822,100. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on URI. JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a research note on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price for the company. Citigroup assumed coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective for the company. Raymond James began coverage on United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 target price for the company. Truist Financial increased their price target on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group lifted their price objective on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $675.15.

United Rentals Trading Up 0.3 %

NYSE:URI opened at $706.36 on Thursday. 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 firm has a market capitalization of $46.72 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.57 and a beta of 1.68. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80. The business has a 50 day simple moving average of $707.03 and a 200 day simple moving average of $683.82.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping 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 analysts’ expectations of $3.77 billion. During the same quarter last year, the company earned $9.88 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that United Rentals, Inc. will post 44.5 EPS for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, August 14th. United Rentals’s payout ratio is currently 17.66%.

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.