Norden Group LLC Trims Stake in United Rentals, Inc. (NYSE:URI)

Norden Group LLC reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 862 shares of the construction company’s stock after selling 31 shares during the quarter. Norden Group LLC’s holdings in United Rentals were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Forum Financial Management LP raised its position in United Rentals by 1.9% during the fourth quarter. Forum Financial Management LP now owns 749 shares of the construction company’s stock valued at $528,000 after acquiring an additional 14 shares in the last quarter. Centaurus Financial Inc. raised its position in United Rentals by 1.7% during the fourth quarter. Centaurus Financial Inc. now owns 999 shares of the construction company’s stock valued at $704,000 after acquiring an additional 17 shares in the last quarter. Leavell Investment Management Inc. raised its position in United Rentals by 3.6% during the first quarter. Leavell Investment Management Inc. now owns 515 shares of the construction company’s stock valued at $323,000 after acquiring an additional 18 shares in the last quarter. Baer Investment Advisory LLC raised its position in United Rentals by 0.6% during the first quarter. Baer Investment Advisory LLC now owns 3,202 shares of the construction company’s stock valued at $2,007,000 after acquiring an additional 18 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its position in United Rentals by 4.0% during the first quarter. HBK Sorce Advisory LLC now owns 490 shares of the construction company’s stock valued at $307,000 after acquiring an additional 19 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the sale, the vice president owned 1,921 shares in the company, valued at $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by corporate insiders.

United Rentals Stock Performance

NYSE URI opened at $881.34 on Wednesday. The stock’s fifty day moving average is $754.69 and its two-hundred day moving average is $697.14. The firm has a market capitalization of $56.71 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $903.60.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing analysts’ consensus estimates of $10.54 by ($0.07). The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $10.70 EPS. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.81%. United Rentals’s dividend payout ratio is currently 18.52%.

Analysts Set New Price Targets

Several analysts have commented on the company. Cfra Research raised United Rentals to a “strong-buy” rating in a report on Friday, April 25th. Redburn Atlantic lowered United Rentals from a “buy” rating to a “neutral” rating and set a $760.00 price objective on the stock. in a report on Friday, June 13th. UBS Group raised their price objective on United Rentals from $780.00 to $835.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Truist Financial raised their price objective on United Rentals from $786.00 to $952.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Robert W. Baird raised their price objective on United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $830.71.

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.