United Rentals, Inc. $URI Stock: Sigma Investment Counselors Inc. Grows Position

Sigma Investment Counselors Inc. boosted its stake in United Rentals, Inc. (NYSE:URI) by 8.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,236 shares of the construction company’s stock after purchasing an additional 814 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in United Rentals were worth $10,244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in United Rentals during the second quarter worth approximately $5,816,326,000. Bank of America Corp DE purchased a new stake in shares of United Rentals during the 2nd quarter valued at $944,196,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United Rentals during the 2nd quarter valued at $716,129,000. Bank of New York Mellon Corp purchased a new stake in shares of United Rentals during the 2nd quarter valued at $412,860,000. Finally, Legal & General Group Plc acquired a new stake in shares of United Rentals during the 2nd quarter worth $411,896,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $1,170.00 target price (down from $1,235.00) on shares of United Rentals in a report on Thursday, September 10th. KeyCorp reissued an “overweight” rating on shares of United Rentals in a research report on Friday. Royal Bank Of Canada upped their price target on United Rentals from $1,323.00 to $1,392.00 and gave the stock an “outperform” rating in a research note on Friday. Sanford C. Bernstein set a $1,258.00 price target on United Rentals in a research note on Friday. Finally, Wall Street Zen upgraded United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,288.19.

United Rentals Stock Up 3.7%

Shares of NYSE:URI opened at $1,162.91 on Wednesday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.62. The company has a 50 day moving average of $1,044.85 and a two-hundred day moving average of $967.03.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 21st. The construction company reported $15.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $13.97 by $1.58. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.71 billion. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.70 EPS. Research analysts anticipate that United Rentals, Inc. will post 50.83 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be paid a dividend of $1.97 per share. The ex-dividend date is Tuesday, November 10th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%.

United Rentals Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.