Pacer Advisors Inc. lessened its holdings in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 19.3% during the fourth quarter, HoldingsChannel reports. The firm owned 5,029 shares of the construction company’s stock after selling 1,205 shares during the quarter. Pacer Advisors Inc.’s holdings in United Rentals were worth $4,070,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in URI. Capital International Investors grew its holdings in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after buying an additional 631,484 shares during the period. Capital World Investors boosted its position in shares of United Rentals by 1.1% in the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after acquiring an additional 30,263 shares during the last quarter. Franklin Resources Inc. grew its holdings in United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after purchasing an additional 28,895 shares during the period. Norges Bank purchased a new stake in United Rentals in the fourth quarter valued at approximately $978,017,000. Finally, Alliancebernstein L.P. increased its position in United Rentals by 5.6% during the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after purchasing an additional 57,977 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on URI. Citigroup increased their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Royal Bank Of Canada upped their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Barclays increased their target price on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. UBS Group lifted their target price on United Rentals from $1,025.00 to $1,145.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Raymond James Financial reissued an “outperform” rating and set a $1,275.00 price target on shares of United Rentals in a research report on Wednesday, June 10th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,045.81.
United Rentals Stock Performance
NYSE:URI opened at $1,092.73 on Tuesday. The firm’s fifty day simple moving average is $960.26 and its 200 day simple moving average is $873.79. 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 twelve month low of $693.78 and a twelve month high of $1,106.88. The firm has a market capitalization of $68.46 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.70 and a beta of 1.81.
United Rentals (NYSE:URI – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the company posted $8.86 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that United Rentals, Inc. will post 47.26 earnings per share for the current fiscal year.
United Rentals Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is 20.10%.
Insider Buying and Selling
In other United Rentals news, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president owned 1,865 shares in the company, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,088 shares of company stock valued at $25,628,877. Corporate insiders own 0.47% of the company’s stock.
United Rentals Company 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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