Renaissance Investment Group LLC Has $14.44 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Renaissance Investment Group LLC trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,502 shares of the construction company’s stock after selling 486 shares during the period. United Rentals makes up approximately 3.0% of Renaissance Investment Group LLC’s portfolio, making the stock its 9th largest holding. Renaissance Investment Group LLC’s holdings in United Rentals were worth $14,442,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mayflower Financial Advisors LLC raised its stake in United Rentals by 4.0% during the third quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock valued at $274,000 after buying an additional 13 shares during the last quarter. Allen Capital Group LLC increased its holdings in shares of United Rentals by 4.2% during the third quarter. Allen Capital Group LLC now owns 324 shares of the construction company’s stock valued at $262,000 after acquiring an additional 13 shares in the last quarter. First County Bank CT raised its position in shares of United Rentals by 3.2% in the 3rd quarter. First County Bank CT now owns 422 shares of the construction company’s stock worth $342,000 after purchasing an additional 13 shares during the last quarter. IAM Advisory LLC raised its position in shares of United Rentals by 1.6% in the 3rd quarter. IAM Advisory LLC now owns 900 shares of the construction company’s stock worth $729,000 after purchasing an additional 14 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in United Rentals by 1.7% in the 3rd quarter. CVA Family Office LLC now owns 844 shares of the construction company’s stock worth $683,000 after purchasing an additional 14 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

Shares of URI opened at $770.81 on Friday. The firm has a market capitalization of $50.58 billion, a P/E ratio of 20.13, a PEG ratio of 1.46 and a beta of 1.69. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. United Rentals, Inc. has a one year low of $553.22 and a one year high of $896.98. The business has a fifty day moving average of $778.79 and a 200 day moving average of $761.58.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $11.73 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.85%. United Rentals’s payout ratio is presently 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 transaction of $740,916.00. Following the transaction, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on URI. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Argus raised their price target on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research report on Tuesday, January 14th. Truist Financial cut their target price on United Rentals from $965.00 to $963.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus target price of $805.08.

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.