Pinnacle Associates Ltd. Buys 2,556 Shares of United Rentals, Inc. (NYSE:URI)

Pinnacle Associates Ltd. lifted its position in United Rentals, Inc. (NYSE:URI - Free Report) by 66.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,413 shares of the construction company's stock after purchasing an additional 2,556 shares during the quarter. Pinnacle Associates Ltd.'s holdings in United Rentals were worth $5,193,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. lifted its stake in United Rentals by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company's stock worth $3,461,000 after purchasing an additional 14 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings in United Rentals by 3.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company's stock valued at $244,000 after acquiring an additional 14 shares during the period. IAM Advisory LLC grew its position in United Rentals by 1.6% during the 3rd quarter. IAM Advisory LLC now owns 900 shares of the construction company's stock worth $729,000 after acquiring an additional 14 shares during the last quarter. CVA Family Office LLC increased its stake in United Rentals by 1.7% in the 3rd quarter. CVA Family Office LLC now owns 844 shares of the construction company's stock worth $683,000 after purchasing an additional 14 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company's stock valued at $301,000 after purchasing an additional 15 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

URI has been the topic of several recent analyst reports. Robert W. Baird raised their target price on shares of United Rentals from $565.00 to $650.00 and gave the stock an "underperform" rating in a report on Thursday, October 3rd. Barclays upped 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. Evercore ISI lifted their price objective on United Rentals from $774.00 to $795.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. The Goldman Sachs Group boosted their target price on United Rentals from $790.00 to $905.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, Bank of America lifted 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 issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, United Rentals currently has a consensus rating of "Hold" and a consensus price target of $742.50.

United Rentals Stock Down 2.4 %

Shares of URI stock traded down $19.33 during trading hours on Friday, hitting $793.47. 741,045 shares of the company's stock traded hands, compared to its average volume of 542,174. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The stock has a market cap of $52.07 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 1.90 and a beta of 1.68. The stock's fifty day simple moving average is $780.36 and its two-hundred day simple moving average is $711.80. United Rentals, Inc. has a 12-month low of $419.81 and a 12-month high of $861.74.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data 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). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the previous year, the firm posted $11.73 EPS. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 43.66 EPS for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals's dividend payout ratio (DPR) is 17.03%.

Insider Buying and Selling at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the company's stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by company insiders.

United Rentals Company 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.