MAI Capital Management Decreases Position in United Rentals, Inc. (NYSE:URI)

MAI Capital Management trimmed its position in United Rentals, Inc. (NYSE:URI - Free Report) by 38.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,860 shares of the construction company's stock after selling 1,184 shares during the quarter. MAI Capital Management's holdings in United Rentals were worth $1,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in URI. Covestor Ltd boosted its position in United Rentals by 155.6% during the 1st quarter. Covestor Ltd now owns 138 shares of the construction company's stock valued at $100,000 after acquiring an additional 84 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of United Rentals by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 8,241 shares of the construction company's stock worth $5,943,000 after acquiring an additional 40 shares in the last quarter. Crewe Advisors LLC bought a new stake in United Rentals during the first quarter worth about $27,000. CreativeOne Wealth LLC increased its stake in shares of United Rentals by 23.1% during the first quarter. CreativeOne Wealth LLC now owns 1,682 shares of the construction company's stock valued at $1,213,000 after purchasing an additional 316 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of United Rentals by 17.6% during the first quarter. Axxcess Wealth Management LLC now owns 1,974 shares of the construction company's stock valued at $1,424,000 after purchasing an additional 295 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

URI has been the subject of a number of analyst reports. Barclays raised their price objective on United Rentals from $400.00 to $565.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Truist Financial raised 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. The Goldman Sachs Group upped their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Argus upped their price target on United Rentals from $840.00 to $880.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Bank of America raised their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of "Hold" and a consensus target price of $751.67.

Insider Activity

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on 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. The trade was a 30.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company's stock.

United Rentals Price Performance

NYSE URI traded up $14.84 during trading hours on Thursday, reaching $835.39. The company's stock had a trading volume of 171,348 shares, compared to its average volume of 544,707. The company has a market capitalization of $54.82 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.93 and a beta of 1.68. The firm's 50-day moving average price is $814.46 and its 200-day moving average price is $729.65. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 1 year low of $454.71 and a 1 year high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.49 by ($0.69). The company 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 firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.73 earnings per share. On average, equities research analysts predict that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

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 given a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.78%. United Rentals's dividend payout ratio (DPR) is presently 17.03%.

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.