Conning Inc. Grows Stock Holdings in United Rentals, Inc. (NYSE:URI)

by · The Markets Daily

Conning Inc. increased its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 120.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,129 shares of the construction company’s stock after purchasing an additional 617 shares during the quarter. Conning Inc.’s holdings in United Rentals were worth $914,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in URI. Crewe Advisors LLC bought a new stake in United Rentals during the first quarter valued at approximately $27,000. RFP Financial Group LLC grew its position in shares of United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after acquiring 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 $31,000. HHM Wealth Advisors LLC raised its holdings in United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after purchasing an additional 42 shares during the period. Finally, HM Payson & Co. purchased a new position in United Rentals during the third quarter valued at $41,000. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on URI. Citigroup upped their price target on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays upped their price objective on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. The Goldman Sachs Group upped their price target on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Robert W. Baird lifted their price objective 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and an average price target of $742.50.

View Our Latest Research Report on United Rentals

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

United Rentals Trading Down 2.4 %

Shares of URI stock opened at $793.47 on Monday. The company has a market cap of $52.07 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. United Rentals, Inc. has a 1 year low of $419.81 and a 1 year high of $861.74. The stock’s 50 day simple moving average is $781.33 and its two-hundred day simple moving average is $713.07. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI – Get Free Report) last released 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 company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $11.73 EPS. Research analysts predict that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.82%. United Rentals’s dividend payout ratio (DPR) is presently 17.03%.

United Rentals Profile

(Free Report)

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.

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