Meeder Asset Management Inc. Decreases Stake in United Rentals, Inc. $URI

Meeder Asset Management Inc. trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 60.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 900 shares of the construction company’s stock after selling 1,367 shares during the period. Meeder Asset Management Inc.’s holdings in United Rentals were worth $859,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Optas LLC grew its holdings in United Rentals by 0.9% during the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after acquiring an additional 10 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of United Rentals by 0.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock valued at $1,720,000 after purchasing an additional 11 shares in the last quarter. OFI Invest Asset Management lifted its position in shares of United Rentals by 6.7% during the 3rd quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after purchasing an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after purchasing an additional 11 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its stake in shares of United Rentals by 12.0% during the second quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock worth $84,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of analyst reports. Barclays cut their price target on United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a research report on Sunday, January 4th. BNP Paribas Exane upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $900.00 target price for the company in a research note on Tuesday, September 16th. Baird R W raised United Rentals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of United Rentals from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $954.83.

United Rentals Trading Up 1.1%

URI opened at $948.66 on Tuesday. The firm has a market cap of $60.36 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 1.95 and a beta of 1.69. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The business’s 50 day moving average is $828.95 and its two-hundred day moving average is $877.45. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing the consensus estimate of $12.43 by ($0.73). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.16 billion. United Rentals had a net margin of 15.83% and a return on equity of 31.30%. United Rentals’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $11.80 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.42%.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.