Continuum Advisory LLC Trims Stake in United Rentals, Inc. $URI

Key Points

• Continuum Advisory LLC reduced its United Rentals stake by 94.8% in the second quarter, leaving it with 119 shares valued at approximately $135,000. Institutional investors collectively own 96.26% of URI.
• United Rentals reported better-than-expected quarterly results, with earnings of $12.76 per share and revenue of $4.41 billion, up 11.8% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,246.19; the company also pays a quarterly dividend of $1.97 per share.

Continuum Advisory LLC cut its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 94.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119 shares of the construction company's stock after selling 2,158 shares during the period. Continuum Advisory LLC's holdings in United Rentals were worth $135,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. PFG Investments LLC raised its holdings in shares of United Rentals by 0.9% in the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company's stock valued at $854,000 after acquiring an additional 11 shares in the last quarter. CoreCap Advisors LLC lifted its stake in United Rentals by 16.9% in the second quarter. CoreCap Advisors LLC now owns 76 shares of the construction company's stock worth $86,000 after acquiring an additional 11 shares during the period. Great Valley Advisor Group Inc. grew its holdings in United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company's stock worth $292,000 after acquiring an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in United Rentals by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company's stock worth $260,000 after acquiring an additional 12 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in United Rentals by 2.0% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company's stock valued at $441,000 after purchasing an additional 12 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Rentals

In other United Rentals news, EVP William Grace sold 1,500 shares of United Rentals stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares of the company's stock, valued at approximately $6,869,155.30. The trade was a 19.84% 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 the SEC website. Corporate insiders own 0.47% of the company's stock.

United Rentals Stock Performance

URI stock opened at $1,009.78 on Monday. The firm has a market cap of $62.85 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.49 and a beta of 1.79. The firm has a 50-day simple moving average of $1,087.43 and a two-hundred day simple moving average of $962.34. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts' consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $10.47 EPS. On average, equities analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is 18.92%.

Analyst Ratings Changes

URI has been the subject of several recent research reports. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a report on Friday, July 24th. Barclays increased their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a research note on Friday, July 24th. Truist Financial lifted their price objective on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a report on Friday, July 24th. KeyCorp reissued an "overweight" rating and issued a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Finally, Evercore restated an "outperform" rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.

About United Rentals

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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