PNC Financial Services Group Inc. Trims Position in United Rentals, Inc. (NYSE:URI)

PNC Financial Services Group Inc. lowered its holdings in United Rentals, Inc. (NYSE:URI) by 6.1% in the third quarter, Holdings Channel.com reports. The firm owned 61,545 shares of the construction company’s stock after selling 3,968 shares during the period. PNC Financial Services Group Inc.’s holdings in United Rentals were worth $49,835,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in United Rentals by 155.6% during the first quarter. Covestor Ltd now owns 138 shares of the construction company’s stock worth $100,000 after purchasing an additional 84 shares during the period. Clearbridge Investments LLC raised its position in shares of United Rentals by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 8,241 shares of the construction company’s stock worth $5,943,000 after buying an additional 40 shares during the period. Crewe Advisors LLC acquired a new position in United Rentals in the first quarter valued at $27,000. CreativeOne Wealth LLC grew its position in United Rentals by 23.1% during the first quarter. CreativeOne Wealth LLC now owns 1,682 shares of the construction company’s stock valued at $1,213,000 after acquiring an additional 316 shares during the period. Finally, Axxcess Wealth Management LLC increased its stake in United Rentals by 17.6% during the first quarter. Axxcess Wealth Management LLC now owns 1,974 shares of the construction company’s stock worth $1,424,000 after acquiring an additional 295 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.49% of the company’s stock.

United Rentals Trading Down 0.1 %

URI opened at $820.25 on Thursday. United Rentals, Inc. has a 12-month low of $454.71 and a 12-month high of $896.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The stock has a market capitalization of $53.82 billion, a PE ratio of 21.42, a P/E/G ratio of 1.96 and a beta of 1.68. The firm’s fifty day moving average price is $814.46 and its 200 day moving average price is $729.65.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $11.73 EPS. As a group, research analysts expect that United Rentals, Inc. will post 43.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.79%. United Rentals’s payout ratio is 17.03%.

Analyst Upgrades and Downgrades

URI has been the topic of several research reports. Citigroup raised their price target on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays increased 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. JPMorgan Chase & Co. boosted their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Evercore ISI increased their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, The Goldman Sachs Group boosted their price target on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, United Rentals has an average rating of “Hold” and an average price target of $751.67.

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.