Miracle Mile Advisors LLC Acquires New Shares in United Rentals, Inc. (NYSE:URI)

Miracle Mile Advisors LLC bought a new position in United Rentals, Inc. (NYSE:URI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 435 shares of the construction company’s stock, valued at approximately $306,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its stake in shares of United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after buying an additional 85,325 shares in the last quarter. International Assets Investment Management LLC lifted its stake in United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. Geode Capital Management LLC grew its position in United Rentals by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after acquiring an additional 9,256 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of United Rentals by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after purchasing an additional 57,002 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of United Rentals by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.49% of the company’s stock.

United Rentals Stock Performance

NYSE:URI opened at $758.03 on Friday. The firm’s 50-day moving average is $782.94 and its 200-day moving average is $759.89. The company has a market cap of $49.74 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.46 and a beta of 1.69. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. United Rentals, Inc. has a 52-week low of $545.16 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate 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 was up 6.0% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $1.63 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.86%. United Rentals’s dividend payout ratio (DPR) is currently 17.03%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Argus upped their price objective on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Truist Financial decreased their price target on United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup cut their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target 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.