Icon Wealth Advisors LLC Makes New $1.66 Million Investment in United Rentals, Inc. (NYSE:URI)

Icon Wealth Advisors LLC acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,049 shares of the construction company’s stock, valued at approximately $1,659,000.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in United Rentals by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after purchasing an additional 27,708 shares during the last quarter. AMF Tjanstepension AB grew its stake in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of United Rentals by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 438,427 shares of the construction company’s stock worth $355,007,000 after buying an additional 5,325 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of United Rentals by 5.7% during the 2nd quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock valued at $247,001,000 after buying an additional 20,481 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on URI. Barclays boosted their price objective on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Argus boosted their target price on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial raised their price target on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group raised 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. Finally, Robert W. Baird upped their price target on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $751.67.

Insider Activity

In other news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction on Monday, October 28th. The stock was 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 of the company’s stock, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

United Rentals stock opened at $849.03 on Friday. 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 company has a market capitalization of $55.71 billion, a PE ratio of 22.17, a P/E/G ratio of 1.97 and a beta of 1.68. The company has a 50 day moving average price of $819.40 and a 200-day moving average price of $731.57. 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 issued its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm earned $11.73 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 yield of 0.77%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) 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.