Castleark Management LLC Lowers Position in United Rentals, Inc. $URI

Key Points

• Castleark Management cut its United Rentals position by 50% in the first quarter, selling 3,420 shares and retaining 3,420 shares valued at approximately $2.49 million.
• Institutional ownership remains high at 96.26%, while several major funds—including Norges Bank, Corient Private Wealth, and Robeco—significantly increased their positions.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, up 11.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,226.50, and the company declared a quarterly dividend of $1.97 per share.

Castleark Management LLC trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 50.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,420 shares of the construction company's stock after selling 3,420 shares during the quarter. Castleark Management LLC's holdings in United Rentals were worth $2,492,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of URI. Norges Bank purchased a new position in United Rentals during the fourth quarter worth about $978,017,000. Corient Private Wealth LLC lifted its holdings in shares of United Rentals by 1,667.4% in the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company's stock worth $278,378,000 after acquiring an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock worth $159,184,000 after acquiring an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of United Rentals during the 4th quarter worth approximately $102,945,000. Finally, Victory Capital Management Inc. boosted its position in shares of United Rentals by 103.7% during the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company's stock worth $186,967,000 after purchasing an additional 117,584 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on URI shares. Evercore reissued an "outperform" rating and issued a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the company an "overweight" rating in a report on Friday. Truist Financial raised their target price on United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a report on Friday. KeyCorp reaffirmed an "overweight" rating and issued a $1,350.00 target price on shares of United Rentals in a research report on Friday. Finally, Barclays increased their price target on shares of United Rentals from $715.00 to $950.00 and gave the stock an "underweight" rating in a research report on Friday. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and an average target price of $1,226.50.

United Rentals Price Performance

Shares of NYSE URI opened at $1,126.44 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The company has a market cap of $70.11 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.51 and a beta of 1.79. The stock's 50-day moving average is $1,056.51 and its two-hundred day moving average is $920.95. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,177.67.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping 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 business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the company posted $10.47 earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. Analysts forecast that United Rentals, Inc. will post 47.32 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's payout ratio is 18.92%.

About United Rentals

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.

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.