QRG Capital Management Inc. decreased its holdings in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,496 shares of the construction company’s stock after selling 529 shares during the quarter. QRG Capital Management Inc.’s holdings in United Rentals were worth $2,547,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Beacon Investment Advisory Services Inc. increased its stake in United Rentals by 1,358.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company’s stock worth $6,658,000 after buying an additional 7,663 shares during the period. Nordea Investment Management AB grew its stake in United Rentals by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 154,688 shares of the construction company’s stock worth $126,362,000 after acquiring an additional 28,604 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of United Rentals by 18.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock worth $9,514,000 after acquiring an additional 1,846 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of United Rentals by 1.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 367,814 shares of the construction company’s stock worth $351,128,000 after acquiring an additional 5,115 shares during the period. Finally, Addenda Capital Inc. raised its stake in shares of United Rentals by 21.3% during the fourth quarter. Addenda Capital Inc. now owns 16,739 shares of the construction company’s stock valued at $13,547,000 after acquiring an additional 2,939 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
United Rentals Stock Down 4.0%
United Rentals stock traded down $44.20 during mid-day trading on Tuesday, reaching $1,055.48. 49,015 shares of the company were exchanged, compared to its average volume of 606,703. The business has a fifty day moving average of $1,020.47 and a 200 day moving average of $894.90. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The firm has a market cap of $66.13 billion, a P/E ratio of 26.94, a PEG ratio of 1.76 and a beta of 1.79. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69.
United Rentals Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $1.97 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s payout ratio is currently 20.10%.
Wall Street Analysts Forecast Growth
URI has been the subject of a number of research reports. Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. 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. UBS Group upped their target price on United Rentals from $1,145.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating and set a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. Finally, Barclays raised their price target on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,119.69.
Read Our Latest Stock Analysis on United Rentals
Insider Activity
In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 26,088 shares of company stock valued at $25,628,877. Corporate insiders own 0.47% of the company’s stock.
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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