Groesbeck Investment Management Corp NJ Reduces Position in United Rentals, Inc. (NYSE:URI)

Groesbeck Investment Management Corp NJ cut its position in shares of United Rentals, Inc. (NYSE:URI) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,023 shares of the construction company’s stock after selling 624 shares during the quarter. United Rentals accounts for 5.6% of Groesbeck Investment Management Corp NJ’s portfolio, making the stock its 3rd largest position. Groesbeck Investment Management Corp NJ’s holdings in United Rentals were worth $4,067,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of URI. Crewe Advisors LLC acquired a new position in shares of United Rentals in the 1st quarter worth $27,000. RFP Financial Group LLC grew its holdings in United Rentals by 115.8% during the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in United Rentals by 280.0% during the second quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after purchasing an additional 42 shares during the last quarter. Register Financial Advisors LLC acquired a new position in United Rentals during the first quarter valued at approximately $43,000. Finally, Trust Co. of Vermont grew its stake in shares of United Rentals by 6,000.0% in the third quarter. Trust Co. of Vermont now owns 61 shares of the construction company’s stock worth $49,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Raymond James started coverage on United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Robert W. Baird lifted their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Barclays lifted their price objective on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday. 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 presently has a consensus rating of “Hold” and an average price target of $742.50.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 directly owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

Shares of United Rentals stock traded down $12.49 on Friday, hitting $812.50. The stock had a trading volume of 460,369 shares, compared to its average volume of 543,421. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $861.74. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. The stock has a market cap of $54.10 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.68. The business’s 50 day moving average is $772.68 and its two-hundred day moving average is $708.16.

United Rentals (NYSE:URI) last issued its quarterly 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 company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $11.73 earnings per share. Analysts forecast that United Rentals, Inc. will post 44.38 EPS 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is presently 17.66%.

About United Rentals

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.