Kovack Advisors Inc. Trims Position in United Rentals, Inc. (NYSE:URI)

Kovack Advisors Inc. decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 0.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,751 shares of the construction company’s stock after selling 91 shares during the quarter. United Rentals makes up 0.8% of Kovack Advisors Inc.’s holdings, making the stock its 21st largest holding. Kovack Advisors Inc.’s holdings in United Rentals were worth $7,896,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in shares of United Rentals in the first quarter valued at about $27,000. RFP Financial Group LLC lifted its holdings in United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in United Rentals in the 3rd quarter worth approximately $31,000. Carmichael Hill & Associates Inc. grew its holdings in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after buying an additional 20 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its position in shares of United Rentals by 280.0% during the second quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after buying an additional 42 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 0.0 %

Shares of URI stock traded down $0.16 during trading hours on Wednesday, reaching $868.20. 38,784 shares of the stock were exchanged, compared to its average volume of 545,526. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12-month low of $454.71 and a 12-month high of $896.98. The firm has a market capitalization of $56.97 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.04 and a beta of 1.68. The company’s 50-day moving average price is $797.79 and its 200-day moving average price is $723.15.

United Rentals (NYSE:URI) last issued its quarterly 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). The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.73 earnings per share. As a group, equities analysts anticipate that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio is presently 17.03%.

Insider Activity at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on URI. Citigroup upped their target price on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group raised their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial boosted their target price on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays raised their price target on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Bank of America upped their price objective on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and an average price target of $742.50.

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.