Assenagon Asset Management S.A. Reduces Stock Holdings in United Rentals, Inc. $URI

Assenagon Asset Management S.A. trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 50.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,037 shares of the construction company’s stock after selling 10,222 shares during the period. Assenagon Asset Management S.A.’s holdings in United Rentals were worth $9,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new stake in United Rentals in the 2nd quarter worth about $28,000. Maseco LLP purchased a new stake in United Rentals during the second quarter valued at about $32,000. Flaharty Asset Management LLC bought a new position in United Rentals during the first quarter worth about $30,000. Trust Co. of Toledo NA OH purchased a new position in shares of United Rentals in the second quarter worth about $38,000. Finally, Hantz Financial Services Inc. increased its stake in shares of United Rentals by 103.7% in the second quarter. Hantz Financial Services Inc. now owns 55 shares of the construction company’s stock worth $42,000 after purchasing an additional 28 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of URI opened at $811.98 on Friday. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40. The company has a market cap of $51.67 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.85 and a beta of 1.68. The stock has a 50-day moving average price of $856.10 and a 200-day moving average price of $860.11.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the prior year, the business earned $11.80 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 12th. United Rentals’s payout ratio is currently 18.42%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Baird R W raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, October 8th. BNP Paribas set a $900.00 price target on United Rentals and gave the company a “neutral” rating in a research report on Tuesday, September 16th. Wells Fargo & Company began coverage on United Rentals in a report on Thursday, November 13th. They set an “overweight” rating and a $995.00 price objective on the stock. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average price target of $954.83.

About United Rentals

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.