Northeast Investment Management Acquires 2,798 Shares of United Rentals, Inc. (NYSE:URI)

Northeast Investment Management grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,592 shares of the construction company’s stock after purchasing an additional 2,798 shares during the quarter. Northeast Investment Management’s holdings in United Rentals were worth $21,532,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of United Rentals by 11.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after purchasing an additional 964 shares during the period. Essex Financial Services Inc. boosted its stake in shares of United Rentals by 31.9% during the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after purchasing an additional 136 shares during the period. Forsta AP Fonden boosted its stake in shares of United Rentals by 2.8% during the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after purchasing an additional 400 shares during the period. Tidal Investments LLC boosted its stake in shares of United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after purchasing an additional 3,435 shares during the period. Finally, BDF Gestion purchased a new stake in shares of United Rentals during the second quarter valued at approximately $2,998,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on URI. Barclays raised their price target on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Robert W. Baird raised their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Bank of America raised their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI raised their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $742.50.

United Rentals Price Performance

Shares of NYSE:URI opened at $793.47 on Monday. United Rentals, Inc. has a 1-year low of $419.81 and a 1-year high of $861.74. 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 has a fifty day moving average price of $781.33 and a 200-day moving average price of $713.07. The company has a market capitalization of $52.07 billion, a PE ratio of 20.72, a PEG ratio of 1.90 and a beta of 1.68.

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). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $11.73 earnings per share. United Rentals’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that United Rentals, Inc. will post 43.66 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.82%. United Rentals’s payout ratio is 17.03%.

United Rentals 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.