United Rentals, Inc. (NYSE:URI) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in shares of United Rentals, Inc. (NYSE:URI) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 382,536 shares of the construction company’s stock after purchasing an additional 20,481 shares during the period. Hsbc Holdings PLC’s holdings in United Rentals were worth $247,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of URI. Capital Research Global Investors grew its stake in shares of United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after buying an additional 1,799,997 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of United Rentals by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after purchasing an additional 11,429 shares during the last quarter. Capital International Investors bought a new stake in United Rentals during the 1st quarter valued at approximately $332,349,000. AMF Tjanstepension AB boosted its position in shares of United Rentals by 77.7% in the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after acquiring an additional 199,810 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of United Rentals by 0.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,389 shares of the construction company’s stock worth $120,543,000 after acquiring an additional 1,267 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 4.0 %

Shares of URI stock opened at $771.63 on Wednesday. The firm’s fifty day moving average price is $712.20 and its two-hundred day moving average price is $684.81. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $789.80. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $51.04 billion, a P/E ratio of 20.90, a PEG ratio of 1.65 and a beta of 1.68.

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 the consensus estimate of $10.48 by $0.22. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.88 earnings per share. On average, equities analysts predict that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio is 17.66%.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the transaction, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $2,822,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the subject of several recent research reports. Citigroup started coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target for the company. Truist Financial upped their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James began coverage on United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective for the company. Finally, Evercore ISI upped their price objective 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, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, United Rentals has an average rating of “Hold” and a consensus target price of $675.15.

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.