Pacer Advisors Inc. Cuts Stock Position in United Rentals, Inc. $URI

Pacer Advisors Inc. cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 36.3% in the first quarter, HoldingsChannel.com reports. The fund owned 3,201 shares of the construction company’s stock after selling 1,828 shares during the period. Pacer Advisors Inc.’s holdings in United Rentals were worth $2,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Core Wealth Advisors LLC purchased a new stake in shares of United Rentals during the fourth quarter worth about $28,000. MV Capital Management Inc. purchased a new position in United Rentals in the 4th quarter valued at about $28,000. Laurel Wealth Advisors LLC acquired a new stake in United Rentals in the 4th quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new stake in United Rentals in the 4th quarter worth about $34,000. Finally, Frazier Financial Advisors LLC increased its stake in United Rentals by 33.3% during the 1st quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock worth $41,000 after buying an additional 14 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

URI has been the subject of a number of research analyst reports. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Royal Bank Of Canada upped their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Truist Financial increased their price objective on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

United Rentals Stock Down 0.0%

Shares of URI opened at $1,162.37 on Friday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The stock has a fifty day simple moving average of $1,085.32 and a two-hundred day simple moving average of $933.12. The company has a market capitalization of $72.35 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.80.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the company posted $10.47 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.

About United Rentals

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.