Douglas Lane & Associates LLC Has $10.67 Million Position in United Rentals, Inc. (NYSE:URI)

Douglas Lane & Associates LLC lowered its holdings in United Rentals, Inc. (NYSE:URI) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,499 shares of the construction company’s stock after selling 661 shares during the quarter. Douglas Lane & Associates LLC’s holdings in United Rentals were worth $10,670,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of URI. Louisiana State Employees Retirement System bought a new stake in shares of United Rentals during the fourth quarter worth $2,351,000. Verdence Capital Advisors LLC bought a new stake in shares of United Rentals during the fourth quarter worth $257,000. Nomura Holdings Inc. bought a new stake in shares of United Rentals during the fourth quarter worth $780,000. Forsta AP Fonden raised its position in shares of United Rentals by 2.8% during the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock worth $10,528,000 after acquiring an additional 400 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of United Rentals by 46.2% during the fourth quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock worth $56,982,000 after acquiring an additional 31,398 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

United Rentals Stock Up 2.0 %

NYSE URI traded up $13.11 during trading hours on Tuesday, reaching $681.72. 438,530 shares of the company’s stock were exchanged, compared to its average volume of 590,867. The company’s 50-day moving average is $669.21 and its two-hundred day moving average is $671.02. United Rentals, Inc. has a one year low of $387.01 and a one year high of $789.80. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $45.09 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.00 and a beta of 1.71.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the business earned $9.88 EPS. United Rentals’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that United Rentals, Inc. will post 44.35 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, August 14th. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on URI. Stifel Nicolaus boosted their target price on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group upped their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Truist Financial increased their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James assumed coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on shares of United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $670.92.

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.