Empowered Funds LLC Grows Stake in United Rentals, Inc. (NYSE:URI)

Empowered Funds LLC raised its position in shares of United Rentals, Inc. (NYSE:URI) by 22.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,092 shares of the construction company’s stock after purchasing an additional 929 shares during the period. Empowered Funds LLC’s holdings in United Rentals were worth $4,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in United Rentals in the first quarter worth about $27,000. RFP Financial Group LLC lifted its position in shares of United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of United Rentals in the 3rd quarter worth approximately $31,000. Carmichael Hill & Associates Inc. increased its holdings in United Rentals by 80.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after buying an additional 20 shares during the period. Finally, HHM Wealth Advisors LLC increased 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 buying an additional 42 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of URI stock opened at $836.00 on Monday. The business has a fifty day moving average of $807.10 and a 200 day moving average of $726.74. United Rentals, Inc. has a 1 year low of $454.71 and a 1 year high of $896.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The firm has a market capitalization of $54.86 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.96 and a beta of 1.68.

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

United Rentals Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on URI shares. Evercore ISI increased their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Truist Financial lifted their target price on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Citigroup increased their price target on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group lifted their price objective 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. Finally, Robert W. Baird increased their target price on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $742.50.

Insider Transactions at United Rentals

In other United Rentals 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

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.