JPMorgan Chase & Co. Acquires 105,287 Shares of United Rentals, Inc. (NYSE:URI)

JPMorgan Chase & Co. increased its position in United Rentals, Inc. (NYSE:URI - Free Report) by 15.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 787,877 shares of the construction company's stock after purchasing an additional 105,287 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.20% of United Rentals worth $637,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in URI. Mirae Asset Global Investments Co. Ltd. raised its stake in United Rentals by 11.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company's stock valued at $7,492,000 after buying an additional 964 shares during the last quarter. Essex Financial Services Inc. raised its holdings in United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company's stock worth $364,000 after acquiring an additional 136 shares during the last quarter. Retireful LLC purchased a new stake in United Rentals during the 3rd quarter valued at $697,000. Mizuho Securities USA LLC raised its stake in shares of United Rentals by 1,067.5% in the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company's stock worth $48,486,000 after purchasing an additional 54,750 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in shares of United Rentals by 428.8% during the third quarter. XTX Topco Ltd now owns 1,692 shares of the construction company's stock valued at $1,370,000 after buying an additional 1,372 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URI. Citigroup raised their price target on shares of United Rentals from $955.00 to $985.00 and gave the company a "buy" rating in a report on Monday, December 9th. Argus lifted their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on United Rentals from $780.00 to $940.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Bank of America upped their price objective on United Rentals from $800.00 to $910.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, Truist Financial raised their target price on United Rentals from $955.00 to $965.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $770.71.

United Rentals Price Performance

Shares of NYSE URI traded down $9.57 during midday trading on Friday, reaching $716.54. The stock had a trading volume of 280,452 shares, compared to its average volume of 543,403. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. United Rentals, Inc. has a 12-month low of $533.70 and a 12-month high of $896.98. The stock has a 50-day moving average of $815.52 and a 200-day moving average of $754.30. The company has a market capitalization of $47.02 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.66.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the previous year, the firm earned $11.73 earnings per share. United Rentals's revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals's payout ratio is currently 17.03%.

Insider Transactions at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares of the company's stock, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.49% of the company's stock.

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.