United Rentals, Inc. (NYSE:URI) is Smithbridge Asset Management Inc. DE’s 10th Largest Position

Smithbridge Asset Management Inc. DE lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 76.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,096 shares of the construction company’s stock after acquiring an additional 6,997 shares during the period. United Rentals makes up approximately 2.2% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 10th largest position. Smithbridge Asset Management Inc. DE’s holdings in United Rentals were worth $13,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of United Rentals by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock worth $412,089,000 after purchasing an additional 27,708 shares during the last quarter. Capital International Investors purchased a new stake in shares of United Rentals during the first quarter worth about $332,349,000. AMF Tjanstepension AB raised 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 buying an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in United Rentals by 5.7% during the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after acquiring an additional 20,481 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on URI. Truist Financial increased their price target on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI increased their target price on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. The Goldman Sachs Group lifted their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird upped 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $742.50.

Insiders Place Their Bets

In other 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 transaction of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by company insiders.

United Rentals Stock Up 1.1 %

NYSE URI opened at $821.05 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a fifty-two week low of $395.44 and a fifty-two week high of $861.74. The business has a 50 day moving average price of $772.68 and a two-hundred day moving average price of $708.43. The stock has a market cap of $53.88 billion, a PE ratio of 21.22, a P/E/G ratio of 1.87 and a beta of 1.68.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the company posted $11.73 earnings per share. United Rentals’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.31 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

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.