Burney Co. Sells 3,991 Shares of United Rentals, Inc. $URI

Key Points

• Burney Co. reduced its United Rentals stake by 26.5% in the first quarter, selling 3,991 shares and leaving it with 11,088 shares valued at about $8.1 million.
• United Rentals reported mixed quarterly results, with EPS of $9.71 and revenue of $3.98 billion, both below analyst expectations, though revenue still rose 7.2% year over year.
• Despite recent insider selling and the earnings miss, Wall Street remains broadly positive: 15 analysts rate the stock a Buy, and the average price target is about $1,119.69.

Burney Co. lessened its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 26.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,088 shares of the construction company's stock after selling 3,991 shares during the quarter. Burney Co.'s holdings in United Rentals were worth $8,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Capital International Investors lifted its stake 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 worth $3,247,762,000 after purchasing an additional 631,484 shares in the last quarter. Capital World Investors increased its holdings 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 purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock worth $1,087,711,000 after purchasing an additional 28,895 shares during the last quarter. Norges Bank purchased a new stake in shares of United Rentals in the fourth quarter worth about $978,017,000. Finally, Alliancebernstein L.P. lifted its position in shares of United Rentals by 5.6% in the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock worth $1,038,870,000 after buying an additional 57,977 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

United Rentals Trading Up 0.0%

URI opened at $1,098.98 on Tuesday. The stock has a 50-day moving average of $1,020.47 and a 200 day moving average of $894.90. 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 12 month low of $701.59 and a 12 month high of $1,143.69. The firm has a market cap of $68.85 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.76 and a beta of 1.79.

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 (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The company had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $8.86 earnings per share. As a group, research analysts forecast that United Rentals, Inc. will post 46.76 EPS for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given 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 dividend payout ratio (DPR) is currently 20.10%.

Insider Buying and Selling

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the sale, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,088 shares of company stock valued at $25,628,877 in the last three months. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings upgraded United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, June 24th. Robert W. Baird upped their price objective on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Truist Financial increased their target price on United Rentals from $1,209.00 to $1,421.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Barclays raised their target price on shares of United Rentals from $600.00 to $715.00 and gave the company an "underweight" rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada boosted their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,119.69.

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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