Cannon Advisors Inc. Takes $298,000 Position in United Rentals, Inc. (NYSE:URI)

Cannon Advisors Inc. bought a new stake in United Rentals, Inc. (NYSE:URI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 476 shares of the construction company's stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in United Rentals during the fourth quarter worth $25,000. Murphy & Mullick Capital Management Corp acquired a new stake in United Rentals during the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its position in shares of United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock worth $29,000 after acquiring an additional 29 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of United Rentals in the 1st quarter worth approximately $26,000. Finally, OFI Invest Asset Management bought a new stake in United Rentals during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Insider Activity at United Rentals

In related news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the sale, the vice president directly owned 1,921 shares in the company, valued at $1,355,957.06. This trade represents a 26.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the sale, the executive vice president directly owned 8,748 shares in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

United Rentals Stock Down 0.4%

Shares of NYSE URI traded down $3.29 during midday trading on Thursday, reaching $784.50. 342,929 shares of the company's stock traded hands, compared to its average volume of 587,529. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The stock's 50 day simple moving average is $700.20 and its 200-day simple moving average is $682.97. United Rentals, Inc. has a one year low of $525.91 and a one year high of $896.98. The company has a market cap of $50.99 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.92 and a beta of 1.69.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a return on equity of 33.11% and a net margin of 16.38%. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same period last year, the business earned $9.15 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.91%. United Rentals's payout ratio is currently 18.54%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on URI. Truist Financial increased their price objective on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Morgan Stanley upgraded United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price for the company in a research report on Wednesday, April 16th. Bank of America dropped their target price on United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Redburn Atlantic downgraded United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target for the company. in a report on Friday, June 13th. Finally, Robert W. Baird increased their price objective on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $766.23.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.