Argent Capital Management LLC lowered its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,116 shares of the construction company's stock after selling 4,443 shares during the quarter. United Rentals accounts for approximately 2.6% of Argent Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Argent Capital Management LLC owned 0.18% of United Rentals worth $80,955,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of United Rentals during the 4th quarter valued at $978,017,000. Corient Private Wealth LLC boosted its holdings in shares of United Rentals by 1,667.4% during the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company's stock valued at $278,378,000 after acquiring an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock valued at $159,184,000 after purchasing an additional 191,162 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of United Rentals during the 4th quarter valued at $102,945,000. Finally, Victory Capital Management Inc. grew its stake in United Rentals by 103.7% during the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company's stock valued at $186,967,000 after acquiring an additional 117,584 shares in the last quarter. Institutional investors own 96.26% of the company's stock.
United Rentals Stock Up 1.1%
URI opened at $1,080.77 on Friday. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,177.67. The business's fifty day simple moving average is $1,067.76 and its 200 day simple moving average is $925.40. The firm has a market cap of $67.27 billion, a P/E ratio of 25.96, a PEG ratio of 1.38 and a beta of 1.79. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.
United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts' consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter last year, the firm earned $10.47 earnings per share. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that United Rentals, Inc. will post 48.35 EPS for the current fiscal year.
United Rentals Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals's payout ratio is currently 18.92%.
Insider Activity at United Rentals
In other news, EVP William E. Grace sold 1,500 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% 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. Company insiders own 0.47% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Evercore reiterated an "outperform" rating and issued a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. Weiss Ratings raised shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Citigroup lifted their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Robert W. Baird set a $1,300.00 target price on United Rentals in a report on Friday, July 24th. Finally, KeyCorp restated an "overweight" rating and set a $1,350.00 price target on shares of United Rentals in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,226.50.
Read Our Latest Analysis on URI
About United Rentals
(
Free Report)
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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