Cigna Investments Inc. New Has $558,000 Stock Position in United Rentals, Inc. (NYSE:URI)

Cigna Investments Inc. New cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 689 shares of the construction company’s stock after selling 24 shares during the period. Cigna Investments Inc. New’s holdings in United Rentals were worth $558,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in shares of United Rentals in the 1st quarter valued at approximately $27,000. RFP Financial Group LLC raised its position in United Rentals by 115.8% during the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after acquiring an additional 22 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in United Rentals in the third quarter valued at $31,000. HHM Wealth Advisors LLC grew its position in shares of United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after acquiring an additional 42 shares during the period. Finally, HM Payson & Co. acquired a new position in shares of United Rentals during the 3rd quarter worth about $41,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Trading Down 2.4 %

Shares of URI stock opened at $793.47 on Friday. The stock has a market cap of $52.07 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. United Rentals, Inc. has a 1 year low of $419.81 and a 1 year high of $861.74. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The stock has a 50 day simple moving average of $781.33 and a 200 day simple moving average of $712.68.

United Rentals (NYSE:URI) last released its 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 return on equity of 34.73% and a net margin of 17.12%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $11.73 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 43.66 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Bank of America lifted their target price on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird lifted their price objective on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Finally, Truist Financial upped their price objective on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $742.50.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

United Rentals Company 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.