BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 58,885 Shares of United Rentals, Inc. (NYSE:URI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in United Rentals, Inc. (NYSE:URI) by 47.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,074 shares of the construction company’s stock after selling 58,885 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.10% of United Rentals worth $46,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. Barings LLC boosted its position in shares of United Rentals by 17.8% in the first quarter. Barings LLC now owns 2,453 shares of the construction company’s stock valued at $1,769,000 after acquiring an additional 371 shares during the period. Bleakley Financial Group LLC raised its stake in United Rentals by 5.9% in the 1st quarter. Bleakley Financial Group LLC now owns 2,203 shares of the construction company’s stock worth $1,589,000 after purchasing an additional 122 shares in the last quarter. Heritage Wealth Advisors boosted its holdings in United Rentals by 15,100.8% in the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock valued at $72,674,000 after purchasing an additional 100,118 shares during the period. Avantax Advisory Services Inc. grew its position in shares of United Rentals by 4.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,142 shares of the construction company’s stock worth $2,987,000 after purchasing an additional 182 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of United Rentals by 7.0% during the first quarter. Russell Investments Group Ltd. now owns 68,409 shares of the construction company’s stock worth $49,318,000 after purchasing an additional 4,496 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of NYSE URI traded up $19.77 during mid-day trading on Thursday, hitting $743.36. 305,977 shares of the stock traded hands, compared to its average volume of 571,682. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $49.50 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.44 and a beta of 1.71. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $759.98. The firm has a 50 day simple moving average of $658.96 and a two-hundred day simple moving average of $653.84.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. United Rentals’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.95 earnings per share. As a group, equities research analysts forecast that United Rentals, Inc. will post 43.84 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, May 7th. United Rentals’s dividend payout ratio is presently 17.66%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on URI. Truist Financial reduced their price target on United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Oppenheimer restated a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. The Goldman Sachs Group upped their price objective on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price on the stock. Finally, Raymond James assumed coverage on shares of United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $637.67.

Insiders Place Their Bets

In related news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

About United Rentals

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.