Assenagon Asset Management S.A. Has $6.16 Million Position in United Rentals, Inc. $URI

Assenagon Asset Management S.A. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 90.1% during the 1st quarter, HoldingsChannel reports. The fund owned 8,459 shares of the construction company’s stock after selling 76,670 shares during the period. Assenagon Asset Management S.A.’s holdings in United Rentals were worth $6,163,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Aventura Private Wealth LLC purchased a new position in United Rentals in the fourth quarter valued at about $27,000. Core Wealth Advisors LLC purchased a new stake in shares of United Rentals during the 4th quarter worth about $28,000. MV Capital Management Inc. acquired a new stake in shares of United Rentals during the 4th quarter valued at about $28,000. Board of the Pension Protection Fund acquired a new stake in shares of United Rentals during the 4th quarter valued at about $32,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of United Rentals during the 4th quarter valued at about $32,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore restated an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Truist Financial set a $1,209.00 target price on shares of United Rentals in a research note on Friday, April 24th. Barclays boosted their target price on shares of United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Bank of America increased their price target on shares of United Rentals from $1,020.00 to $1,195.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, KeyCorp raised their price target on shares of United Rentals from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $1,070.50.

United Rentals Price Performance

Shares of United Rentals stock opened at $1,123.06 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The firm has a fifty day simple moving average of $986.77 and a 200-day simple moving average of $882.32. The stock has a market capitalization of $70.36 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.77 and a beta of 1.81. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,143.69.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.86 earnings per share. On average, sell-side analysts expect that United Rentals, Inc. will post 47.26 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.