City National Bank of Florida MSD Invests $290,000 in United Rentals, Inc. (NYSE:URI)

City National Bank of Florida MSD acquired a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 411 shares of the construction company's stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Adell Harriman & Carpenter Inc. raised its stake in United Rentals by 1.8% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company's stock valued at $573,000 after acquiring an additional 14 shares during the period. Valmark Advisers Inc. grew its holdings in United Rentals by 1.8% during the 4th quarter. Valmark Advisers Inc. now owns 788 shares of the construction company's stock valued at $555,000 after buying an additional 14 shares in the last quarter. Erste Asset Management GmbH grew its holdings in shares of United Rentals by 0.5% during the fourth quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock worth $2,002,000 after purchasing an additional 14 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of United Rentals by 1.9% during the fourth quarter. Forum Financial Management LP now owns 749 shares of the construction company's stock worth $528,000 after purchasing an additional 14 shares in the last quarter. Finally, Klingman & Associates LLC grew its holdings in shares of United Rentals by 2.3% during the fourth quarter. Klingman & Associates LLC now owns 669 shares of the construction company's stock worth $471,000 after purchasing an additional 15 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

Shares of United Rentals stock traded down $3.36 during trading hours on Friday, reaching $700.31. 333,184 shares of the stock traded hands, compared to its average volume of 603,292. The company has a 50 day moving average price of $636.40 and a 200 day moving average price of $706.53. The firm has a market capitalization of $45.52 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 1.43 and a beta of 1.70. United Rentals, Inc. has a one year low of $525.91 and a one year high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same period in the previous year, the firm earned $9.15 earnings per share. The firm's quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.02%. United Rentals's payout ratio is currently 18.54%.

Insider Activity

In other news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president now directly owns 1,921 shares of the company's stock, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael D. Durand sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president now directly owns 8,748 shares in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,908 shares of company stock valued at $1,890,567 in the last ninety days. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

URI has been the topic of a number of recent research reports. Truist Financial increased their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Citigroup dropped their price target on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Bank of America lowered their price objective 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. 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 report on Wednesday, April 16th. Finally, Cfra Research raised United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and an average target price of $757.38.

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.