Exchange Traded Concepts LLC Sells 765 Shares of United Rentals, Inc. (NYSE:URI)

Exchange Traded Concepts LLC trimmed its position in United Rentals, Inc. (NYSE:URI - Free Report) by 39.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,175 shares of the construction company's stock after selling 765 shares during the quarter. Exchange Traded Concepts LLC's holdings in United Rentals were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors acquired a new stake in shares of United Rentals in the 1st quarter worth about $332,349,000. AMF Tjanstepension AB raised its holdings in shares of United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company's stock valued at $295,626,000 after buying an additional 199,810 shares during the last quarter. Marshall Wace LLP boosted its position in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company's stock worth $97,108,000 after buying an additional 108,360 shares during the period. AGF Management Ltd. boosted its position in shares of United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company's stock worth $67,048,000 after buying an additional 101,547 shares during the period. Finally, Heritage Wealth Advisors increased its position in United Rentals by 15,100.8% in the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company's stock valued at $72,674,000 after acquiring an additional 100,118 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price 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. The Goldman Sachs Group boosted their target price on United Rentals from $790.00 to $905.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Citigroup increased their price target on United Rentals from $860.00 to $930.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Truist Financial lifted their price target on United Rentals from $873.00 to $954.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Raymond James started coverage on United Rentals in a research note on Friday, June 28th. They set an "outperform" rating and a $750.00 target price for the company. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $714.92.

United Rentals Stock Down 0.1 %

Shares of URI traded down $0.85 during mid-day trading on Friday, reaching $839.69. The company's stock had a trading volume of 341,288 shares, compared to its average volume of 541,208. The company has a market cap of $55.91 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.94 and a beta of 1.68. The business has a fifty day moving average of $760.25 and a 200 day moving average of $703.66. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $861.74.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.48 by $0.22. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 earnings per share. As a group, analysts forecast that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals's payout ratio is presently 17.66%.

United Rentals Profile

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.