Cerity Partners LLC Acquires 12,793 Shares of United Rentals, Inc. (NYSE:URI)

Cerity Partners LLC grew its position in United Rentals, Inc. (NYSE:URI - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,627 shares of the construction company's stock after acquiring an additional 12,793 shares during the quarter. Cerity Partners LLC owned approximately 0.18% of United Rentals worth $74,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in United Rentals in the 4th quarter worth approximately $695,716,000. GAMMA Investing LLC boosted its stake in United Rentals by 77,674.5% during the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after purchasing an additional 886,266 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new position in United Rentals during the 4th quarter valued at $330,989,000. Capital World Investors boosted its stake in United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock valued at $1,564,722,000 after purchasing an additional 323,636 shares in the last quarter. Finally, Capital International Investors boosted its stake in United Rentals by 41.0% during the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after purchasing an additional 305,491 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on URI. Morgan Stanley raised United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price objective for the company in a research note on Wednesday, April 16th. Evercore ISI reduced their price objective on United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Cfra Research upgraded United Rentals to a "strong-buy" rating in a report on Friday, April 25th. Finally, Truist Financial increased their price objective on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a report on Friday, April 25th. One 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 currently has a consensus rating of "Moderate Buy" and an average price target of $768.54.

United Rentals Stock Performance

URI stock traded down $9.39 during trading on Tuesday, reaching $799.28. 776,487 shares of the stock were exchanged, compared to its average volume of 588,215. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The company has a market capitalization of $51.95 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.99 and a beta of 1.69. The stock has a 50 day simple moving average of $722.31 and a 200-day simple moving average of $685.55. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the business posted $9.15 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's payout ratio is 18.54%.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the sale, the executive vice president owned 8,748 shares of the company's stock, valued at $5,478,697.44. This represents a 11.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction dated 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 owned 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

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.