HB Wealth Management LLC Reduces Holdings in United Rentals, Inc. (NYSE:URI)

HB Wealth Management LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,877 shares of the construction company’s stock after selling 64 shares during the period. HB Wealth Management LLC’s holdings in United Rentals were worth $2,027,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position 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 worth $7,492,000 after purchasing an additional 964 shares in the last quarter. Retireful LLC purchased a new stake in shares of United Rentals during the third quarter worth approximately $697,000. Mizuho Securities USA LLC increased its position in shares of United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after purchasing an additional 54,750 shares in the last quarter. Fiduciary Alliance LLC increased its position in shares of United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock worth $1,000,000 after purchasing an additional 941 shares in the last quarter. Finally, XTX Topco Ltd increased its position in shares of United Rentals by 428.8% during the third quarter. XTX Topco Ltd now owns 1,692 shares of the construction company’s stock worth $1,370,000 after purchasing an additional 1,372 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of United Rentals stock opened at $770.81 on Monday. The business’s fifty day simple moving average is $778.79 and its 200-day simple moving average is $762.34. United Rentals, Inc. has a 52 week low of $553.22 and a 52 week high of $896.98. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The firm has a market cap of $50.58 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (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 firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company posted $11.73 EPS. United Rentals’s revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.85%. The ex-dividend date was Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

URI has been the subject of several analyst reports. Barclays upped their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Truist Financial dropped their target price on United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a report on Thursday. Argus upped their target price on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Bank of America upped their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $805.08.

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.