United Rentals, Inc. (NYSE:URI) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,023 shares of the construction company’s stock after selling 624 shares during the period. United Rentals accounts for approximately 5.6% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 3rd biggest holding. Groesbeck Investment Management Corp NJ’s holdings in United Rentals were worth $4,067,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after purchasing an additional 1,604,715 shares in the last quarter. Capital International Investors bought a new position in shares of United Rentals during the 1st quarter worth about $332,349,000. AMF Tjanstepension AB boosted its position in shares of United Rentals by 77.7% during the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after purchasing an additional 199,810 shares in the last quarter. Marshall Wace LLP boosted its position in shares of United Rentals by 259.3% during the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after purchasing an additional 108,360 shares in the last quarter. Finally, AGF Management Ltd. boosted its position in shares of United Rentals by 4,778.7% during the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after purchasing an additional 101,547 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Robert W. Baird increased their price objective 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. 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 research report on Friday. Truist Financial raised their price target on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group raised their price target on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, United Rentals has an average rating of “Hold” and an average price target of $742.50.

United Rentals Stock Performance

United Rentals stock traded down $12.49 during mid-day trading on Friday, reaching $812.50. The company’s stock had a trading volume of 460,369 shares, compared to its average volume of 543,421. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $861.74. The company has a market capitalization of $54.10 billion, a P/E ratio of 21.99, a PEG ratio of 1.96 and a beta of 1.68. 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’s fifty day moving average price is $772.68 and its two-hundred day moving average price is $708.16.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $11.73 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts predict that United Rentals, Inc. will post 44.38 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is 17.66%.

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.