Impax Asset Management Group plc Sells 582,270 Shares of United Rentals, Inc. (NYSE:URI)

Impax Asset Management Group plc reduced its holdings in United Rentals, Inc. (NYSE:URI) by 99.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,073 shares of the construction company’s stock after selling 582,270 shares during the quarter. Impax Asset Management Group plc’s holdings in United Rentals were worth $4,917,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Sycomore Asset Management raised its stake in shares of United Rentals by 21.4% in the third quarter. Sycomore Asset Management now owns 7,927 shares of the construction company’s stock valued at $6,363,000 after acquiring an additional 1,397 shares during the last quarter. ING Groep NV grew its holdings in shares of United Rentals by 413.3% in the 3rd quarter. ING Groep NV now owns 3,906 shares of the construction company’s stock valued at $3,163,000 after buying an additional 3,145 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of United Rentals by 1.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,027 shares of the construction company’s stock valued at $1,641,000 after buying an additional 21 shares during the period. Metis Global Partners LLC boosted its stake in United Rentals by 4.5% in the 3rd quarter. Metis Global Partners LLC now owns 2,685 shares of the construction company’s stock worth $2,174,000 after purchasing an additional 116 shares during the period. Finally, KBC Group NV boosted its stake in United Rentals by 2.2% in the 3rd quarter. KBC Group NV now owns 13,550 shares of the construction company’s stock worth $10,971,000 after purchasing an additional 297 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

URI has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup raised their price objective on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Evercore ISI boosted their price objective on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Bank of America lifted their target price on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, United Rentals has a consensus rating of “Hold” and an average price target of $742.50.

United Rentals Stock Down 1.7 %

URI opened at $835.36 on Friday. 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 50 day moving average price of $807.10 and a 200-day moving average price of $725.83. United Rentals, Inc. has a twelve month low of $454.71 and a twelve month high of $896.98. The stock has a market capitalization of $54.82 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.01 and a beta of 1.68.

United Rentals (NYSE:URI) last announced 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). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $11.73 earnings per share. Equities research analysts forecast that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Announces Dividend

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 given a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.78%. United Rentals’s payout ratio is currently 17.03%.

Insider Buying and Selling

In related 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 transaction of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

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.