Congress Asset Management Co. Reduces Stock Position in United Rentals, Inc. (NYSE:URI)

Congress Asset Management Co. lowered its position in United Rentals, Inc. (NYSE:URI - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,498 shares of the construction company's stock after selling 560 shares during the quarter. Congress Asset Management Co.'s holdings in United Rentals were worth $2,192,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Capital World Investors raised its position 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. Geode Capital Management LLC increased its position in shares of United Rentals by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock valued at $1,115,142,000 after acquiring an additional 20,401 shares during the period. Alliancebernstein L.P. raised its position in United Rentals by 16.0% during the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock worth $880,778,000 after buying an additional 172,340 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of United Rentals by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock worth $770,199,000 after buying an additional 97,336 shares during the last quarter. Finally, Capital International Investors grew its position in United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after buying an additional 305,491 shares during the period. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Down 0.5%

Shares of NYSE:URI traded down $3.62 during trading hours on Thursday, reaching $716.33. The stock had a trading volume of 376,572 shares, compared to its average volume of 593,072. The stock has a market capitalization of $46.56 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.43 and a beta of 1.70. The firm's 50 day moving average is $656.94 and its 200-day moving average is $694.79. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98.

United Rentals (NYSE:URI - Get Free Report) last issued its 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The company's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.15 EPS. Research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm 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. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.00%. United Rentals's payout ratio is 18.54%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup reduced their price objective on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Truist Financial boosted their price objective on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Morgan Stanley raised shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target for the company in a research note on Wednesday, April 16th. Robert W. Baird raised their price objective on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Evercore ISI cut their target price on United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $753.15.

Insider Buying and Selling at United Rentals

In other news, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the transaction, the executive vice president now directly owns 8,748 shares of the company's stock, valued at $5,478,697.44. This represents a 11.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the 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 completion of the transaction, the vice president now directly 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. 0.53% of the stock is currently owned by company insiders.

United Rentals 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.