Sterling Capital Management LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 19.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,018 shares of the construction company’s stock after selling 2,488 shares during the quarter. Sterling Capital Management LLC’s holdings in United Rentals were worth $7,299,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Woodline Partners LP increased its holdings in United Rentals by 40.0% in the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Sei Investments Co. boosted its stake in shares of United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after purchasing an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of United Rentals by 43.6% during the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after purchasing an additional 17,030 shares during the last quarter. HUB Investment Partners LLC increased its stake in shares of United Rentals by 11.3% in the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after buying an additional 223 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in shares of United Rentals by 338.7% in the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after buying an additional 1,277 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.
United Rentals Price Performance
URI stock opened at $1,123.06 on Friday. The firm has a market cap of $70.36 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.77 and a beta of 1.81. The company has a quick ratio of 0.74, a current ratio of 0.80 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 company’s fifty day simple moving average is $986.77 and its 200 day simple moving average is $881.63.
United Rentals Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.
Insiders Place Their Bets
In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer owned 99,980 shares in the company, valued at $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 26,088 shares of company stock worth $25,628,877. Company insiders own 0.47% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. UBS Group lifted their target price on shares of United Rentals from $1,025.00 to $1,145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Morgan Stanley restated an “overweight” rating and issued a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. KeyCorp lifted their price target on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank Of Canada boosted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price objective on United Rentals in a report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,070.50.
Check Out Our Latest Research Report on United Rentals
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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