Red Cedar Investment Management LLC Raises Stock Holdings in United Rentals, Inc. (NYSE:URI)

by · The Markets Daily

Red Cedar Investment Management LLC raised its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 56.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,840 shares of the construction company’s stock after buying an additional 1,382 shares during the quarter. Red Cedar Investment Management LLC’s holdings in United Rentals were worth $3,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in URI. Crewe Advisors LLC acquired a new position in United Rentals during the 1st quarter worth approximately $27,000. RFP Financial Group LLC increased its holdings 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 valued at $27,000 after acquiring an additional 22 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals in the 3rd quarter valued at approximately $31,000. Carmichael Hill & Associates Inc. increased its holdings in shares of United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in United Rentals by 280.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Evercore ISI increased their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. The Goldman Sachs Group upped their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America upped their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays upped their price target on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their target price on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $742.50.

View Our Latest Research Report on URI

United Rentals Trading Up 0.1 %

Shares of NYSE URI traded up $0.71 during midday trading on Monday, hitting $794.18. The stock had a trading volume of 100,794 shares, compared to its average volume of 540,101. The company’s 50-day simple moving average is $781.33 and its 200 day simple moving average is $713.07. The firm has a market cap of $52.12 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $432.82 and a fifty-two week high of $861.74. 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 posted 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). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the business earned $11.73 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts anticipate that United Rentals, Inc. will post 43.66 EPS for the current year.

United Rentals Dividend Announcement

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 issued a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.82%. United Rentals’s dividend payout ratio is presently 17.03%.

Insiders Place Their Bets

In other news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 in the company, valued at $1,682,702.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

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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