Glenmede Trust Co. NA grew its position in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 7.0% in the first quarter, HoldingsChannel reports. The fund owned 6,695 shares of the construction company’s stock after acquiring an additional 439 shares during the period. Glenmede Trust Co. NA’s holdings in United Rentals were worth $4,878,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Core Wealth Advisors LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new position in United Rentals during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC acquired a new position in United Rentals during the fourth quarter worth $32,000. Hilton Head Capital Partners LLC bought a new position in United Rentals in the fourth quarter valued at $34,000. Finally, Frazier Financial Advisors LLC grew its position in United Rentals by 33.3% in the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock valued at $41,000 after purchasing an additional 14 shares in the last quarter. 96.26% of the stock is owned by institutional investors.
United Rentals Stock Performance
Shares of URI stock opened at $1,149.42 on Wednesday. The company has a fifty day moving average price of $1,075.06 and a two-hundred day moving average price of $928.14. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,177.67. The stock has a market cap of $71.54 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.44 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70.
United Rentals Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.
Insiders Place Their Bets
In other United Rentals news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on URI shares. Royal Bank Of Canada boosted their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. KeyCorp restated an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. Raymond James Financial restated an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. Argus reaffirmed a “buy” rating and issued a $1,250.00 target price on shares of United Rentals in a research report on Tuesday. Finally, Robert W. Baird set a $1,300.00 target price on United Rentals in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.
Read Our Latest Analysis on United Rentals
United Rentals Profile
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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