CenterBook Partners LP Has $396,000 Holdings in United Rentals, Inc. (NYSE:URI)

Key Points

• CenterBook Partners LP significantly reduced its holdings in United Rentals, Inc. by 88.2%, selling 4,716 shares and leaving it with just 632 shares worth approximately $396,000.
• United Rentals announced a quarterly dividend of $1.79 per share, with an ex-dividend date scheduled for August 13th, resulting in an annualized yield of 0.8%.
• Several brokerages have raised their price targets for United Rentals, with Bank of America and JPMorgan Chase & Co. setting new targets of $900.00 and $950.00, respectively, while the average target price is now $830.71.

CenterBook Partners LP cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 88.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 632 shares of the construction company's stock after selling 4,716 shares during the period. CenterBook Partners LP's holdings in United Rentals were worth $396,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its stake in shares of United Rentals by 33.0% during the first quarter. Chicago Partners Investment Group LLC now owns 459 shares of the construction company's stock valued at $299,000 after acquiring an additional 114 shares in the last quarter. Elgethun Capital Management lifted its position in shares of United Rentals by 12.3% during the first quarter. Elgethun Capital Management now owns 683 shares of the construction company's stock worth $428,000 after purchasing an additional 75 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of United Rentals by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 460,871 shares of the construction company's stock worth $288,828,000 after purchasing an additional 15,657 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of United Rentals during the first quarter worth about $6,767,000. Finally, Citizens Financial Group Inc. RI lifted its position in shares of United Rentals by 100.4% during the first quarter. Citizens Financial Group Inc. RI now owns 27,542 shares of the construction company's stock worth $17,261,000 after purchasing an additional 13,797 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Trading Up 0.5%

United Rentals stock traded up $4.38 during midday trading on Friday, reaching $858.99. The stock had a trading volume of 273,017 shares, compared to its average volume of 666,507. The firm's fifty day simple moving average is $780.39 and its two-hundred day simple moving average is $703.43. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $903.60. 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 firm has a market cap of $55.27 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.98 and a beta of 1.72.

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

United Rentals Dividend Announcement

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

Insider Activity at United Rentals

In other news, VP Andrew B. Limoges sold 708 shares of the business's 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 transaction, the vice president directly owned 1,921 shares in the company, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on URI. Barclays increased their price target on shares of United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. Evercore ISI cut their price target on United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. The Goldman Sachs Group raised their price objective on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Bank of America raised their price objective on shares of United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Citigroup reiterated a "buy" rating and set a $810.00 price objective (up previously from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $830.71.

United Rentals Company 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.