PNC Financial Services Group Inc. Trims Stock Position in United Rentals, Inc. (NYSE:URI)

Key Points

• PNC Financial Services Group Inc. reduced its stake in United Rentals, Inc. by 1.8%, retaining ownership of 60,081 shares valued at approximately $37.65 million.
• Analysts have set a consensus price target of $830.71 for United Rentals, with ratings ranging from "sell" to "strong buy" based on recent reports.
• United Rentals reported $10.47 EPS in its latest quarterly earnings, slightly missing consensus estimates but achieving a revenue of $3.94 billion against expectations of $3.90 billion.

PNC Financial Services Group Inc. trimmed its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,081 shares of the construction company's stock after selling 1,081 shares during the period. PNC Financial Services Group Inc. owned 0.09% of United Rentals worth $37,653,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in United Rentals by 77,674.5% during the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after acquiring an additional 886,266 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in shares of United Rentals in the 4th quarter worth $330,989,000. Capital World Investors increased its stake in United Rentals by 17.1% during the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after acquiring an additional 323,636 shares during the last quarter. Capital International Investors boosted its holdings in shares of United Rentals by 41.0% in the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock worth $740,624,000 after purchasing an additional 305,491 shares during the period. Finally, Marshall Wace LLP boosted its stake in United Rentals by 105.6% during the fourth quarter. Marshall Wace LLP now owns 546,165 shares of the construction company's stock worth $384,740,000 after buying an additional 280,502 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on URI. Evercore ISI cut their price objective on United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Truist Financial increased their target price on shares of United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a research report on Friday, July 25th. UBS Group boosted their target price on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Robert W. Baird increased their target price on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, Barclays lifted their price target on United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $830.71.

United Rentals Stock Performance

Shares of URI stock traded down $6.03 during midday trading on Thursday, hitting $855.23. 430,546 shares of the company were exchanged, compared to its average volume of 658,983. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $903.60. The firm has a market capitalization of $55.03 billion, a P/E ratio of 22.12, a PEG ratio of 2.00 and a beta of 1.72. The firm's 50 day moving average price is $774.58 and its two-hundred day moving average price is $702.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The company 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%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.70 EPS. As a group, equities research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. United Rentals's payout ratio is presently 18.52%.

Insider Activity

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

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.