Confluence Wealth Services Inc. Takes Position in United Rentals, Inc. (NYSE:URI)

Confluence Wealth Services Inc. purchased a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 602 shares of the construction company's stock, valued at approximately $355,000.

Other hedge funds have also recently bought and sold shares of the company. Oakworth Capital Inc. lifted its position in shares of United Rentals by 39.0% in the first quarter. Oakworth Capital Inc. now owns 146 shares of the construction company's stock worth $91,000 after purchasing an additional 41 shares in the last quarter. Achmea Investment Management B.V. increased its stake in United Rentals by 47.6% in the 1st quarter. Achmea Investment Management B.V. now owns 2,431 shares of the construction company's stock valued at $1,523,000 after buying an additional 784 shares during the period. Waverton Investment Management Ltd lifted its position in United Rentals by 5.2% in the 1st quarter. Waverton Investment Management Ltd now owns 225,652 shares of the construction company's stock worth $141,366,000 after buying an additional 11,197 shares in the last quarter. Quilter Plc boosted its stake in shares of United Rentals by 15.7% during the 1st quarter. Quilter Plc now owns 125,446 shares of the construction company's stock valued at $78,617,000 after buying an additional 16,993 shares during the period. Finally, CNB Bank grew its holdings in shares of United Rentals by 16.9% during the 1st quarter. CNB Bank now owns 741 shares of the construction company's stock valued at $464,000 after acquiring an additional 107 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Rentals

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 8,748 shares of the company's stock, valued at approximately $5,478,697.44. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the sale, the vice president now owns 1,921 shares of the company's stock, valued at approximately $1,355,957.06. This trade represents 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 insiders.

Analyst Ratings Changes

A number of research analysts have commented on URI shares. Robert W. Baird boosted their target price on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. UBS Group upgraded United Rentals from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $485.00 to $780.00 in a report on Friday, May 16th. Cfra Research raised shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Truist Financial raised their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a report on Friday, April 25th. Finally, Citigroup reiterated a "buy" rating and issued a $810.00 price objective (up from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and an average price target of $766.23.

United Rentals Stock Up 1.6%

URI opened at $754.03 on Monday. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $896.98. The company has a market capitalization of $49.01 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.84 and a beta of 1.71. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79. The firm's fifty day moving average price is $688.57 and its two-hundred day moving average price is $681.77.

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

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's dividend payout ratio (DPR) is currently 18.54%.

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.

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