Royal London Asset Management Ltd. Buys 48,565 Shares of United Rentals, Inc. (NYSE:URI)

Royal London Asset Management Ltd. boosted its stake in United Rentals, Inc. (NYSE:URI) by 128.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,473 shares of the construction company’s stock after purchasing an additional 48,565 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.13% of United Rentals worth $70,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. RFP Financial Group LLC boosted its stake 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 during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in United Rentals in the 3rd quarter worth about $31,000. Carmichael Hill & Associates Inc. boosted its stake in United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares during the period. HHM Wealth Advisors LLC boosted its stake in United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after purchasing an additional 42 shares during the period. Finally, HM Payson & Co. bought a new position in United Rentals in the 3rd quarter worth about $41,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of United Rentals stock opened at $868.78 on Thursday. 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 business’s 50 day simple moving average is $830.96 and its two-hundred day simple moving average is $740.69. The stock has a market capitalization of $57.01 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.66. United Rentals, Inc. has a one year low of $474.56 and a one year high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The company 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%. United Rentals’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $11.73 earnings per share. Analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $1.63 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.75%. United Rentals’s dividend payout ratio is currently 17.03%.

Insider Transactions at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a 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

Several analysts have weighed in on the company. Truist Financial raised their price target on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. 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. Citigroup raised their price target on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Argus raised their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and a consensus price target of $751.67.

United Rentals Company Profile

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.