Traynor Capital Management Inc. Grows Position in United Rentals, Inc. (NYSE:URI)

Traynor Capital Management Inc. boosted its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,239 shares of the construction company’s stock after acquiring an additional 479 shares during the period. Traynor Capital Management Inc.’s holdings in United Rentals were worth $7,213,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in United Rentals by 11.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after acquiring an additional 964 shares during the last quarter. Retireful LLC purchased a new stake in shares of United Rentals in the third quarter worth about $697,000. Mizuho Securities USA LLC grew its stake in shares of United Rentals by 1,067.5% in the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after buying an additional 54,750 shares in the last quarter. Fiduciary Alliance LLC lifted its position in United Rentals by 196.5% during the 4th quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock worth $1,000,000 after acquiring an additional 941 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in United Rentals by 428.8% in the 3rd quarter. XTX Topco Ltd now owns 1,692 shares of the construction company’s stock worth $1,370,000 after acquiring an additional 1,372 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Price Performance

Shares of NYSE URI opened at $783.55 on Thursday. United Rentals, Inc. has a twelve month low of $574.09 and a twelve month high of $896.98. The company has a market capitalization of $51.42 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.75 and a beta of 1.69. The firm has a 50-day moving average of $773.62 and a two-hundred day moving average of $764.39. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $11.73 earnings per share. As a group, analysts expect that United Rentals, Inc. will post 43.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

URI has been the subject of several analyst reports. Barclays upped their target price on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Citigroup reduced their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Truist Financial reduced their price target on shares of United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Argus increased their price objective on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $805.08.

Insider Buying and Selling

In other news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

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.