Assenagon Asset Management S.A. Sells 25,926 Shares of United Rentals, Inc. (NYSE:URI)

Posted by Defense World Staff on Jul 4th, 2023

Assenagon Asset Management S.A. lessened its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 67.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,413 shares of the construction company’s stock after selling 25,926 shares during the period. Assenagon Asset Management S.A.’s holdings in United Rentals were worth $4,913,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of URI. MUFG Americas Holdings Corp raised its position in shares of United Rentals by 1,900.0% during the 3rd quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock valued at $27,000 after acquiring an additional 95 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of United Rentals during the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC raised its position in shares of United Rentals by 44.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 84 shares of the construction company’s stock valued at $30,000 after acquiring an additional 26 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of United Rentals by 62.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 86 shares of the construction company’s stock valued at $31,000 after acquiring an additional 33 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of United Rentals by 86.3% during the 4th quarter. AdvisorNet Financial Inc now owns 95 shares of the construction company’s stock valued at $34,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 91.46% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on shares of United Rentals from $505.00 to $498.00 in a research note on Friday, April 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of United Rentals from $399.00 to $406.00 and gave the company a “hold” rating in a report on Wednesday, April 12th. StockNews.com started coverage on shares of United Rentals in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Robert W. Baird cut shares of United Rentals from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $425.00 to $300.00 in a report on Monday, March 27th. Finally, KeyCorp dropped their target price on shares of United Rentals from $515.00 to $475.00 in a report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of “Hold” and an average target price of $419.92.

United Rentals Stock Up 0.7 %

NYSE URI opened at $448.63 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 1.61. United Rentals, Inc. has a 1-year low of $235.39 and a 1-year high of $481.99. The company has a 50 day moving average of $371.60 and a 200-day moving average of $392.14. The company has a market cap of $30.83 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.69 and a beta of 1.88.

United Rentals (NYSE:URI – Free Report) last released its quarterly earnings results on Wednesday, April 26th. The construction company reported $7.95 earnings per share for the quarter, missing analysts’ consensus estimates of $8.12 by ($0.17). United Rentals had a net margin of 17.65% and a return on equity of 36.77%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the previous year, the firm posted $5.73 earnings per share. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. On average, equities research analysts expect that United Rentals, Inc. will post 39.67 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th were given a $1.48 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.32%. United Rentals’s payout ratio is 18.99%.

Insider Activity

In related news, CFO William E. Grace sold 725 shares of United Rentals stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $359.63, for a total value of $260,731.75. Following the transaction, the chief financial officer now directly owns 6,520 shares of the company’s stock, valued at $2,344,787.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

United Rentals Profile

(Free Report)

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.