Abacus Planning Group Inc. Sells 18 Shares of United Rentals, Inc. (NYSE:URI)

Abacus Planning Group Inc. cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 5.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 340 shares of the construction company’s stock after selling 18 shares during the quarter. Abacus Planning Group Inc.’s holdings in United Rentals were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of United Rentals in the fourth quarter valued at $695,716,000. GAMMA Investing LLC grew its position in shares of United Rentals by 77,674.5% in the 1st 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 during the period. Leigh Baldwin & CO. LLC acquired a new position in shares of United Rentals during the 4th quarter worth about $330,989,000. Capital World Investors raised its holdings in shares of United Rentals by 17.1% in the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after purchasing an additional 323,636 shares during the period. Finally, Capital International Investors increased its position in United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after buying an additional 305,491 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on URI shares. Evercore ISI dropped their price objective on United Rentals from $974.00 to $921.00 and set an “outperform” rating on the stock in a research note on Monday, May 19th. Morgan Stanley upgraded United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $770.00 to $850.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. UBS Group raised shares of United Rentals from a “sell” rating to a “neutral” rating and increased their price objective for the company from $485.00 to $780.00 in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of United Rentals from $780.00 to $920.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus price target of $753.15.

United Rentals Trading Up 1.1%

Shares of NYSE:URI opened at $707.02 on Monday. The business’s 50 day simple moving average is $650.15 and its 200 day simple moving average is $695.46. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market capitalization of $45.96 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.43 and a beta of 1.70.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the firm posted $9.15 earnings per share. United Rentals’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.01%. United Rentals’s dividend payout ratio (DPR) is currently 18.54%.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president now owns 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the vice president now owns 1,921 shares in the company, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

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.