Bank of New York Mellon Corp reduced its position in United Rentals, Inc. (NYSE:URI)

Bank of New York Mellon Corp trimmed its position in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 443,618 shares of the construction company’s stock after selling 2,601 shares during the period. Bank of New York Mellon Corp’s holdings in United Rentals were worth $286,901,000 at the end of the most recent reporting period.

Several other hedge funds have recently added to or reduced their stakes in URI. Concurrent Investment Advisors LLC grew its position in United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock worth $301,000 after purchasing an additional 15 shares in the last quarter. Hoylecohen LLC boosted its stake in shares of United Rentals by 1.4% in the 4th quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of United Rentals by 4.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock valued at $231,000 after buying an additional 16 shares in the last quarter. US Capital Wealth Advisors LLC raised its holdings in shares of United Rentals by 0.4% during the 2nd quarter. US Capital Wealth Advisors LLC now owns 3,841 shares of the construction company’s stock valued at $2,484,000 after buying another 17 shares in the last quarter. Finally, Choreo LLC raised its position in United Rentals by 1.3% in the first quarter. Choreo LLC now owns 1,456 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 18 shares during the period. Institutional investors own 96.26% of the company’s shares.

United Rentals trading down 0.2%

Shares of URI stock opened at $743.49 on Tuesday. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $789.80. The firm has a market cap of $49.51 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.66 and a beta of 1.71. The company’s 50-day moving average price is $689.68 and its 200-day moving average price is $678.84. The company has a current ratio of 0.81, a quick ratio of 0.76, and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI – Get Your Free Report ) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating the consensus estimate of $10.48 by $0.22. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s revenue rose 6.2% year-over-year. In the same period last year, the company posted earnings per share of $9.88. Sell-side analysts anticipate that United Rentals, Inc. will post 44.4 EPS for the current year.

United Rentals announces dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a $1.63 dividend. This represents a dividend of $6.52 on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 14. United Rentals’s dividend yield is currently 17.66%.

Insider buying and selling

In related news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares of the company’s stock, valued at $2,822,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of shares are owned by company insiders.

Analysts set new price targets

A number of research analysts recently issued reports on URI shares. Goldman Sachs Group upped their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. began coverage on United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price target on the stock. Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective for the company. Oppenheimer restated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Truist Financial upped their target price on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. United Rentals currently has a consensus rating of “Hold” and a consensus price target of $675.15, according to MarketBeat .

See our latest URI analysis

United Rentals company 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, including backhoes, skid steers, forklifts, earthmoving equipment and material handling equipment; aerial work platforms such as boom and scissor lifts; and general tools and light equipment including pressure washers, water pumps and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities.

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