Chevy Chase Trust Holdings LLC Trims Stock Position in United Rentals, Inc. (NYSE:URI)

Chevy Chase Trust Holdings LLC lowered its position in United Rentals, Inc. (NYSE:URI - Free Report) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,705 shares of the construction company's stock after selling 649 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of United Rentals worth $28,911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in shares of United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company's stock worth $1,300,962,000 after buying an additional 1,604,715 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of United Rentals by 259.3% in 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 last quarter. AGF Management Ltd. raised its holdings in United Rentals by 4,778.7% in the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company's stock worth $67,048,000 after acquiring an additional 101,547 shares during the period. FMR LLC boosted its holdings in United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company's stock valued at $1,956,768,000 after acquiring an additional 85,325 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in United Rentals by 10.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company's stock worth $570,167,000 after buying an additional 66,957 shares during the period. Institutional investors own 96.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on URI. 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, November 20th. Citigroup upped their price target on shares of United Rentals from $930.00 to $955.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Barclays upped their price objective on United Rentals from $400.00 to $565.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Truist Financial boosted their target price on United Rentals from $954.00 to $955.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Bank of America increased their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Three 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $751.67.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction 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 $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is owned by company insiders.

United Rentals Trading Up 0.8 %

URI stock traded up $6.63 during midday trading on Tuesday, hitting $863.68. The stock had a trading volume of 248,857 shares, compared to its average volume of 542,980. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The firm has a market cap of $56.67 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.03 and a beta of 1.66. The business has a fifty day moving average price of $829.62 and a two-hundred day moving average price of $739.40. United Rentals, Inc. has a 1-year low of $474.56 and a 1-year high of $896.98.

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 company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. During the same period last year, the firm posted $11.73 earnings per share. The company's revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that United Rentals, Inc. will post 43.46 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Wednesday, November 13th. United Rentals's payout ratio is 17.03%.

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.