KBC Group NV Grows Position in United Rentals, Inc. (NYSE:URI)

KBC Group NV increased its position in United Rentals, Inc. (NYSE:URI) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,550 shares of the construction company’s stock after purchasing an additional 297 shares during the period. KBC Group NV’s holdings in United Rentals were worth $10,971,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock worth $7,492,000 after acquiring an additional 964 shares in the last quarter. Essex Financial Services Inc. lifted its holdings 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 last quarter. Tidal Investments LLC boosted its position in shares of United Rentals by 241.2% in the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after purchasing an additional 3,435 shares in the last quarter. BDF Gestion purchased a new stake in shares of United Rentals in the 2nd quarter worth approximately $2,998,000. Finally, Orion Portfolio Solutions LLC increased its position in United Rentals by 48.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,129 shares of the construction company’s stock valued at $2,256,000 after buying an additional 1,016 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the topic of several analyst reports. Robert W. Baird boosted their target price on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Bank of America increased their price objective on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Evercore ISI increased their price target on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Barclays boosted their price objective on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $742.50.

Insider Transactions at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

United Rentals Stock Down 1.6 %

URI stock opened at $836.00 on Friday. The company has a market cap of $54.86 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.99 and a beta of 1.68. 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 business’s 50-day moving average is $807.10 and its two-hundred day moving average is $726.23. United Rentals, Inc. has a fifty-two week low of $454.71 and a fifty-two week high of $896.98.

United Rentals (NYSE:URI) last released 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 net margin of 17.12% and a return on equity of 34.73%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the company earned $11.73 EPS. United Rentals’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts forecast that United Rentals, Inc. will post 43.55 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Wednesday, November 13th. 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.