Redwood Grove Capital LLC Has $17.75 Million Position in United Rentals, Inc. (NYSE:URI)

Redwood Grove Capital LLC increased its holdings in United Rentals, Inc. (NYSE:URI) by 17.3% during the third quarter, Holdings Channel reports. The firm owned 21,925 shares of the construction company’s stock after purchasing an additional 3,226 shares during the period. United Rentals makes up 4.8% of Redwood Grove Capital LLC’s portfolio, making the stock its 10th largest holding. Redwood Grove Capital LLC’s holdings in United Rentals were worth $17,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in URI. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of United Rentals in the third quarter valued at $31,000. RFP Financial Group LLC boosted its stake in shares of United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after acquiring an additional 22 shares in the last quarter. Carmichael Hill & Associates Inc. boosted its stake in shares of United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. HM Payson & Co. bought a new stake in shares of United Rentals during the 3rd quarter worth $41,000. Finally, HHM Wealth Advisors LLC boosted its stake in shares of United Rentals by 280.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after acquiring an additional 42 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of the firm’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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

United Rentals Stock Performance

Shares of URI opened at $868.78 on Thursday. The company’s fifty day moving average is $830.96 and its 200-day moving average is $740.69. United Rentals, Inc. has a 12 month low of $474.56 and a 12 month high of $896.98. The firm has a market cap of $57.01 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.66. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38.

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 the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company earned $11.73 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts expect that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup boosted their target price 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. Bank of America boosted their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI boosted their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Robert W. Baird boosted their target price on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.