Argent Trust Co Grows Holdings in United Rentals, Inc. (NYSE:URI)

Key Points

• Argent Trust Co increased its stake in United Rentals, Inc. by 27.6% during the first quarter, now holding 3,378 shares worth approximately $2.1 million.
• The recent quarterly earnings report revealed a missed earnings estimate of $10.47 per share, falling short of the forecast by $0.07, but revenue growth of 4.5% year-over-year.
• The company declared a quarterly dividend of $1.79 per share, with an annualized yield of 0.8%, set to be paid on August 27th to shareholders of record.

Argent Trust Co boosted its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 27.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,378 shares of the construction company's stock after acquiring an additional 730 shares during the period. Argent Trust Co's holdings in United Rentals were worth $2,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in URI. Fourth Dimension Wealth LLC bought a new stake in United Rentals during the first quarter valued at $26,000. TruNorth Capital Management LLC lifted its position in shares of United Rentals by 1,266.7% during the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after acquiring an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after acquiring an additional 20 shares in the last quarter. Grove Bank & Trust bought a new stake in United Rentals in the first quarter valued at $36,000. Finally, NBC Securities Inc. bought a new stake in United Rentals in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 96.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays lifted their price target on shares of United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a research report on Monday, July 21st. Truist Financial lifted their target price on United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Redburn Atlantic cut United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective on the stock. in a research note on Friday, June 13th. KeyCorp increased their target price on shares of United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group increased their price objective on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $830.71.

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president directly owned 1,921 shares of the company's stock, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Price Performance

Shares of NYSE:URI traded down $6.03 during trading on Thursday, reaching $855.23. 430,699 shares of the company's stock traded hands, compared to its average volume of 659,342. The firm has a market cap of $55.03 billion, a PE ratio of 22.12, a P/E/G ratio of 2.00 and a beta of 1.72. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $903.60. The company has a 50-day simple moving average of $774.58 and a 200-day simple moving average of $702.91. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. United Rentals's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $10.70 earnings per share. As a group, analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.79 per share. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) is currently 18.52%.

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.