Patton Albertson Miller Group LLC Cuts Position in United Rentals, Inc. (NYSE:URI)

Patton Albertson Miller Group LLC lowered its stake in United Rentals, Inc. (NYSE:URI) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,759 shares of the construction company’s stock after selling 1,349 shares during the quarter. United Rentals accounts for approximately 1.6% of Patton Albertson Miller Group LLC’s portfolio, making the stock its 7th largest position. Patton Albertson Miller Group LLC’s holdings in United Rentals were worth $11,951,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its stake in shares of United Rentals by 0.8% in the first quarter. Lazard Asset Management LLC now owns 4,077 shares of the construction company’s stock valued at $2,939,000 after buying an additional 33 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in United Rentals by 1.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,275 shares of the construction company’s stock valued at $3,083,000 after acquiring an additional 73 shares in the last quarter. California State Teachers Retirement System increased its holdings in United Rentals by 1.0% during the 1st quarter. California State Teachers Retirement System now owns 112,102 shares of the construction company’s stock worth $80,838,000 after purchasing an additional 1,155 shares in the last quarter. Tidal Investments LLC grew its holdings in United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after buying an additional 3,435 shares in the last quarter. Finally, LBP AM SA grew its stake in shares of United Rentals by 47.2% in the 1st quarter. LBP AM SA now owns 1,379 shares of the construction company’s stock worth $994,000 after acquiring an additional 442 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s 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 directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on URI. Truist Financial increased their price objective on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays raised their target price on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Citigroup upped their price target on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird raised their target price on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Finally, Bank of America upped their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus price target of $751.67.

United Rentals Price Performance

Shares of United Rentals stock opened at $864.39 on Tuesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The stock has a market capitalization of $56.72 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.99 and a beta of 1.68. The company has a fifty day moving average of $821.86 and a 200-day moving average of $733.58. United Rentals, Inc. has a 52-week low of $454.71 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm posted $11.73 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts expect that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is 17.03%.

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.