Bessemer Group Inc. trimmed its position in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 56.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,796 shares of the construction company’s stock after selling 89,151 shares during the quarter. Bessemer Group Inc.’s holdings in United Rentals were worth $49,393,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of URI. Independent Financial Group LLC acquired a new stake in United Rentals in the first quarter valued at approximately $777,000. Frazier Financial Advisors LLC grew its holdings in United Rentals by 33.3% in the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock worth $41,000 after purchasing an additional 14 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in United Rentals by 8.1% in the first quarter. Wealthfront Advisers LLC now owns 9,292 shares of the construction company’s stock worth $6,770,000 after purchasing an additional 693 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of United Rentals by 9.7% during the first quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company’s stock worth $7,855,000 after purchasing an additional 950 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of United Rentals during the first quarter worth $141,000. 96.26% of the stock is currently owned by institutional investors.
United Rentals Trading Down 2.6%
NYSE:URI opened at $1,043.73 on Friday. The company has a market capitalization of $65.39 billion, a P/E ratio of 26.63, a PEG ratio of 1.71 and a beta of 1.79. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,143.69. The firm has a fifty day simple moving average of $1,041.31 and a 200-day simple moving average of $910.42.
United Rentals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, May 13th. United Rentals’s payout ratio is presently 20.10%.
Insider Transactions at United Rentals
In related news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares of the company’s stock, valued at $1,823,708.90. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 over the last three months. Company insiders own 0.47% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on URI shares. Truist Financial raised their price objective on United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Evercore reaffirmed an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Morgan Stanley increased their price target on United Rentals from $1,030.00 to $1,165.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Finally, Barclays boosted their price target on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and an average target price of $1,140.00.
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.
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