Impax Asset Management Group plc Trims Stake in United Rentals, Inc. (NYSE:URI)

Impax Asset Management Group plc lowered its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 99.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,073 shares of the construction company's stock after selling 582,270 shares during the period. Impax Asset Management Group plc's holdings in United Rentals were worth $4,917,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in shares of United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company's stock worth $1,300,962,000 after purchasing an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of United Rentals by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company's stock worth $412,089,000 after purchasing an additional 27,708 shares during the last quarter. Capital International Investors purchased a new stake in shares of United Rentals during the 1st quarter worth approximately $332,349,000. AMF Tjanstepension AB increased its stake in shares of United Rentals by 77.7% during the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company's stock worth $295,626,000 after purchasing an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of United Rentals by 5.7% during the 2nd quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company's stock worth $247,001,000 after purchasing an additional 20,481 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the business's 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 transaction, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company's stock.

United Rentals Trading Up 10.3 %

United Rentals stock traded up $82.32 during mid-day trading on Wednesday, hitting $880.32. The company's stock had a trading volume of 1,647,026 shares, compared to its average volume of 548,721. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The stock has a market cap of $57.77 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.68. The business has a 50 day moving average price of $783.42 and a 200-day moving average price of $715.89. United Rentals, Inc. has a 12 month low of $432.82 and a 12 month high of $888.62.

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 for the quarter, missing the consensus estimate of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $11.73 earnings per share. As a group, analysts forecast that United Rentals, Inc. will post 43.66 EPS for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals's payout ratio is 17.03%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on URI shares. Evercore ISI lifted their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an "outperform" rating in a research note on Monday, August 19th. Truist Financial lifted their price objective on shares of United Rentals from $954.00 to $955.00 and gave the company a "buy" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Barclays lifted their price objective 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. Finally, Bank of America lifted their price objective on shares of United Rentals from $800.00 to $910.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $742.50.

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.