Inspire Investing LLC Lowers Holdings in United Rentals, Inc. (NYSE:URI)

Inspire Investing LLC reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,208 shares of the construction company’s stock after selling 434 shares during the quarter. Inspire Investing LLC’s holdings in United Rentals were worth $5,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of URI. Essex Financial Services Inc. increased its holdings in United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after acquiring an additional 136 shares during the last quarter. Nomura Holdings Inc. bought a new position in United Rentals during the fourth quarter valued at approximately $780,000. Forsta AP Fonden grew its holdings in United Rentals by 2.8% during the 1st quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after buying an additional 400 shares in the last quarter. Tidal Investments LLC increased its stake in United Rentals by 241.2% in the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after acquiring an additional 3,435 shares during the last quarter. Finally, BDF Gestion purchased a new stake in shares of United Rentals during the 2nd quarter worth approximately $2,998,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Truist Financial boosted their target price on shares of United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James initiated coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. Citigroup boosted their price objective on United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $714.92.

United Rentals Price Performance

Shares of URI stock opened at $819.00 on Friday. The stock has a 50 day moving average price of $744.21 and a 200 day moving average price of $699.31. United Rentals, Inc. has a 52-week low of $387.01 and a 52-week high of $826.24. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market capitalization of $54.17 billion, a P/E ratio of 21.62, a P/E/G ratio of 1.86 and a beta of 1.68.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping the consensus estimate of $10.48 by $0.22. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $9.88 earnings per share. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.80%. United Rentals’s dividend payout ratio is currently 17.21%.

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.