Eastover Investment Advisors LLC Sells 815 Shares of United Rentals, Inc. $URI

Eastover Investment Advisors LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,758 shares of the construction company’s stock after selling 815 shares during the quarter. United Rentals makes up about 3.6% of Eastover Investment Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Eastover Investment Advisors LLC’s holdings in United Rentals were worth $8,361,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Kovitz Investment Group Partners LLC grew its position in United Rentals by 29.3% in the first quarter. Kovitz Investment Group Partners LLC now owns 2,172 shares of the construction company’s stock worth $1,361,000 after acquiring an additional 492 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of United Rentals by 17.8% in the 1st quarter. Cresset Asset Management LLC now owns 1,328 shares of the construction company’s stock valued at $832,000 after purchasing an additional 201 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in United Rentals by 7.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 7,085 shares of the construction company’s stock worth $4,440,000 after purchasing an additional 496 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in United Rentals by 374.4% during the first quarter. Northwest & Ethical Investments L.P. now owns 1,708 shares of the construction company’s stock worth $1,069,000 after buying an additional 1,348 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in United Rentals by 0.8% during the first quarter. Northern Trust Corp now owns 661,166 shares of the construction company’s stock valued at $414,353,000 after buying an additional 5,113 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on URI shares. Barclays decreased their price target on United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research note on Monday, October 20th. BNP Paribas set a $900.00 price target on United Rentals and gave the company a “neutral” rating in a report on Tuesday, September 16th. Baird R W raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Finally, Truist Financial set a $1,169.00 target price on shares of United Rentals in a research note on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $961.72.

United Rentals Stock Up 0.9%

URI opened at $817.75 on Wednesday. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $52.03 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.84 and a beta of 1.68. The business has a 50 day moving average of $866.55 and a 200-day moving average of $859.06.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.16 billion. United Rentals had a return on equity of 31.30% and a net margin of 15.83%.The company’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $11.80 EPS. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.9%. United Rentals’s dividend payout ratio is currently 18.42%.

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.