GRIMES & Co WEALTH MANAGEMENT LLC Sells 843 Shares of United Rentals, Inc. $URI

by · The Markets Daily

GRIMES & Co WEALTH MANAGEMENT LLC trimmed its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 76.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 264 shares of the construction company’s stock after selling 843 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in United Rentals were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd bought a new stake in United Rentals during the 2nd quarter worth about $29,000. MidFirst Bank bought a new position in shares of United Rentals in the second quarter worth about $31,000. Bell Investment Advisors Inc bought a new position in shares of United Rentals in the second quarter worth about $40,000. Laurel Wealth Advisors LLC bought a new position in shares of United Rentals in the third quarter worth about $40,000. Finally, Frazier Financial Advisors LLC lifted its position in shares of United Rentals by 33.3% during the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock worth $41,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 4.3%

Shares of NYSE URI opened at $1,125.02 on Thursday. The firm has a market capitalization of $69.66 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.64 and a beta of 1.82. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.35. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,202.12. The firm’s 50-day moving average is $1,053.99 and its 200-day moving average is $974.16.

United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The construction company reported $15.55 EPS for the quarter, topping the consensus estimate of $13.97 by $1.58. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.71 billion. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. United Rentals’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $11.70 EPS. Equities analysts expect that United Rentals, Inc. will post 51.51 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. United Rentals’s payout ratio is currently 17.32%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of United Rentals from $1,335.00 to $1,350.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Truist Financial raised their price target on shares of United Rentals from $1,395.00 to $1,450.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Argus restated a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 22nd. Finally, Wall Street Zen upgraded United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,292.88.

Get Our Latest Stock Analysis on URI

United Rentals Profile

(Free Report)

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.

Further Reading

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