NewEdge Advisors LLC cut its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 29.2% during the first quarter, HoldingsChannel reports. The firm owned 1,457 shares of the construction company’s stock after selling 600 shares during the period. NewEdge Advisors LLC’s holdings in United Rentals were worth $1,061,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the business. Core Wealth Advisors LLC acquired a new position in United Rentals in the 4th quarter valued at about $28,000. MV Capital Management Inc. acquired a new stake in United Rentals during the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC acquired a new stake in United Rentals during the 4th quarter worth approximately $32,000. Hilton Head Capital Partners LLC purchased a new position in shares of United Rentals in the 4th quarter valued at approximately $34,000. Finally, Sunbelt Securities Inc. grew its stake in shares of United Rentals by 2,300.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 48 shares of the construction company’s stock valued at $46,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.
United Rentals Stock Performance
NYSE:URI opened at $1,166.11 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $72.58 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80. The firm has a 50-day moving average price of $1,096.63 and a two-hundred day moving average price of $942.44. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18.
United Rentals Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.
Analysts Set New Price Targets
Several analysts have recently commented on URI shares. KeyCorp restated an “overweight” rating and issued a $1,350.00 target price on shares of United Rentals in a research note on Friday, July 24th. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a report on Monday, June 29th. Argus restated a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Evercore reiterated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.
Check Out Our Latest Stock Analysis on United Rentals
Insider Activity at United Rentals
In other news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.
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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