United Rentals, Inc. (NYSE:URI) Shares Sold by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC has reduced its stake in United Rentals, Inc. by 2.5%, owning a total of 28,206 shares valued at $17.68 million after selling 715 shares in the first quarter.
• Analysts have given United Rentals an overall rating of "Moderate Buy" with an average price target of $830.71; recent target increases include Barclays and KeyCorp, raising their prices to $620.00 and $960.00 respectively.
• The company recently announced a quarterly dividend of $1.79 per share, with a yield of 0.8% and a dividend payout ratio of 18.52%.

Cary Street Partners Financial LLC decreased its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,206 shares of the construction company's stock after selling 715 shares during the quarter. Cary Street Partners Financial LLC's holdings in United Rentals were worth $17,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in United Rentals in the first quarter valued at approximately $26,000. TruNorth Capital Management LLC boosted its position in United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after purchasing an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after acquiring an additional 20 shares during the last quarter. Grove Bank & Trust acquired a new position in shares of United Rentals in the first quarter valued at about $36,000. Finally, NBC Securities Inc. acquired a new stake in shares of United Rentals during the 1st quarter worth $40,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of NYSE URI traded down $6.03 during trading on Thursday, reaching $855.23. 431,782 shares of the stock traded hands, compared to its average volume of 673,995. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $903.60. The company has a 50-day moving average of $777.39 and a 200-day moving average of $703.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. The stock has a market capitalization of $55.03 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing the consensus estimate of $10.54 by ($0.07). The firm had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $10.70 EPS. Analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, August 13th. United Rentals's dividend payout ratio is currently 18.52%.

Analyst Ratings Changes

Several brokerages recently issued reports on URI. Cfra Research raised shares of United Rentals to a "strong-buy" rating in a report on Friday, April 25th. KeyCorp increased their price objective on United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Bank of America lifted their price target on United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Robert W. Baird boosted their price objective on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, Redburn Atlantic cut United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective for the company. in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $830.71.

Insider Buying and Selling

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the sale, the vice president owned 1,921 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

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.