United Rentals, Inc. (NYSE:URI) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc decreased its holdings in United Rentals, Inc. (NYSE:URI) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,875 shares of the construction company’s stock after selling 103 shares during the quarter. United Rentals accounts for approximately 2.4% of Morse Asset Management Inc’s holdings, making the stock its 8th largest position. Morse Asset Management Inc’s holdings in United Rentals were worth $11,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of URI. International Assets Investment Management LLC raised its position in United Rentals by 82,462.2% in the third 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 in the last quarter. Marshall Wace LLP raised its holdings in shares of United Rentals by 259.3% in the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after purchasing an additional 108,360 shares in the last quarter. AGF Management Ltd. lifted its stake in United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock valued at $67,048,000 after purchasing an additional 101,547 shares during the last quarter. FMR LLC grew its position in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after buying an additional 66,957 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.49% of the company’s stock.

United Rentals Price Performance

Shares of URI opened at $869.17 on Wednesday. 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 firm has a market cap of $57.03 billion, a PE ratio of 22.70, a PEG ratio of 2.01 and a beta of 1.66. The firm’s 50 day moving average price is $829.62 and its 200 day moving average price is $739.40. United Rentals, Inc. has a twelve month low of $474.56 and a twelve month high of $896.98.

United Rentals (NYSE:URI) last released its quarterly 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). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $11.73 EPS. As a group, research analysts expect that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on URI shares. Truist Financial raised their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America raised their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Barclays upped their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, Argus boosted their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and a consensus price target of $751.67.

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.