Bank of New York Mellon Corp Sells 75,987 Shares of United Rentals, Inc. (NYSE:URI)

Posted by on Mar 19th, 2023

Bank of New York Mellon Corp lowered its stake in shares of United Rentals, Inc. (NYSE:URI – Get Rating) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499,186 shares of the construction company’s stock after selling 75,987 shares during the quarter. Bank of New York Mellon Corp owned about 0.72% of United Rentals worth $134,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp boosted its position in United Rentals by 1,900.0% during the third quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock valued at $27,000 after purchasing an additional 95 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in United Rentals during the second quarter valued at about $27,000. Trustcore Financial Services LLC boosted its position in United Rentals by 1,237.5% during the third quarter. Trustcore Financial Services LLC now owns 107 shares of the construction company’s stock valued at $29,000 after purchasing an additional 99 shares in the last quarter. Ronald Blue Trust Inc. raised its stake in United Rentals by 185.1% in the third quarter. Ronald Blue Trust Inc. now owns 134 shares of the construction company’s stock valued at $32,000 after buying an additional 87 shares during the last quarter. Finally, HBC Financial Services PLLC raised its stake in United Rentals by 47.6% in the second quarter. HBC Financial Services PLLC now owns 155 shares of the construction company’s stock valued at $38,000 after buying an additional 50 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.

United Rentals Stock Down 6.8 %

Shares of URI stock opened at $370.09 on Friday. The stock has a 50 day moving average of $431.97 and a 200 day moving average of $359.57. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.59. The stock has a market cap of $25.65 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.58 and a beta of 1.85. United Rentals, Inc. has a twelve month low of $230.54 and a twelve month high of $481.99.

United Rentals (NYSE:URI – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The construction company reported $9.74 earnings per share for the quarter, missing the consensus estimate of $10.12 by ($0.38). The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.29 billion. United Rentals had a net margin of 18.08% and a return on equity of 36.12%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.39 earnings per share. As a group, sell-side analysts expect that United Rentals, Inc. will post 41.69 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Wednesday, February 8th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, February 7th. United Rentals’s payout ratio is currently 4.97%.

Wall Street Analyst Weigh In

URI has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on United Rentals from $380.00 to $436.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Citigroup increased their price target on United Rentals to $415.00 in a research note on Wednesday, December 14th. UBS Group increased their price target on United Rentals from $460.00 to $512.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Credit Suisse Group initiated coverage on United Rentals in a research note on Wednesday, February 8th. They issued an “outperform” rating and a $544.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on United Rentals from $341.00 to $399.00 and gave the company a “hold” rating in a research note on Friday, January 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $440.46.

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 519 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $432.00, for a total value of $224,208.00. Following the sale, the vice president now directly owns 2,235 shares of the company’s stock, valued at $965,520. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other United Rentals news, EVP Craig Adam Pintoff sold 4,761 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $434.56, for a total value of $2,068,940.16. Following the sale, the executive vice president now directly owns 15,942 shares of the company’s stock, valued at $6,927,755.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew B. Limoges sold 519 shares of United Rentals stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $432.00, for a total value of $224,208.00. Following the completion of the sale, the vice president now directly owns 2,235 shares in the company, valued at $965,520. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,672 shares of company stock valued at $13,871,422. Company insiders own 0.53% of the company’s stock.

United Rentals Company Profile

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United Rentals, Inc engages in the equipment rental business. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities. The Specialty segment focuses on the rental of specialty construction products such as trench safety equipment, power and HVAC equipment, fluid solutions equipment, mobile storage equipment and modular office space.

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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