Arax Advisory Partners Decreases Stake in United Rentals, Inc. $URI

Key Points

• Arax Advisory Partners cut its stake in United Rentals by 66.3% in the fourth quarter, leaving it with 1,694 shares worth about $1.37 million.
• United Rentals reported Q1 earnings of $9.71 per share, missing analyst estimates, while revenue came in at $3.99 billion versus the expected $4.20 billion.
• Despite the earnings miss, Wall Street remains bullish: analysts have a Moderate Buy consensus on URI, with an average price target of $1,045.81.

Arax Advisory Partners trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 66.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,694 shares of the construction company's stock after selling 3,331 shares during the quarter. Arax Advisory Partners' holdings in United Rentals were worth $1,371,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in URI. Abich Financial Wealth Management LLC bought a new position in United Rentals during the 3rd quarter worth approximately $29,000. Aventura Private Wealth LLC acquired a new position in United Rentals in the fourth quarter worth $27,000. Core Wealth Advisors LLC acquired a new stake in shares of United Rentals during the 4th quarter worth approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new position in United Rentals during the 3rd quarter worth $35,000. Finally, Board of the Pension Protection Fund acquired a new position in United Rentals during the 4th quarter valued at about $32,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Rentals

In other news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president owned 1,865 shares of the company's stock, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals 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 sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last quarter. 0.47% of the stock is owned by company insiders.

United Rentals Stock Up 0.8%

Shares of URI stock opened at $1,082.43 on Tuesday. The stock's 50 day simple moving average is $927.44 and its 200 day simple moving average is $864.50. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. United Rentals, Inc. has a twelve month low of $682.08 and a twelve month high of $1,106.88. The company has a market capitalization of $67.81 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.70 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm's revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $8.86 earnings per share. As a group, research analysts predict that United Rentals, Inc. will post 47.26 EPS for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued 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 was Wednesday, May 13th. United Rentals's dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of research reports. Truist Financial set a $1,209.00 target price on shares of United Rentals in a report on Friday, April 24th. Weiss Ratings upgraded United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Morgan Stanley reiterated an "overweight" rating and issued a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. Raymond James Financial reiterated an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a research report on Wednesday, June 10th. Finally, UBS Group increased their price target on United Rentals from $1,025.00 to $1,145.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,045.81.

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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