Elevation Point Wealth Partners LLC Has $1.39 Million Stock Holdings in United Rentals, Inc. (NYSE:URI)

Elevation Point Wealth Partners LLC grew its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,220 shares of the construction company's stock after purchasing an additional 550 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in United Rentals were worth $1,391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors raised its holdings in United Rentals by 17.1% during the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after purchasing an additional 323,636 shares in the last quarter. Geode Capital Management LLC grew its position in 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 buying an additional 20,401 shares during the last quarter. Alliancebernstein L.P. grew its position in United Rentals by 16.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock valued at $880,778,000 after buying an additional 172,340 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of United Rentals by 9.8% during the 4th quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock worth $770,199,000 after purchasing an additional 97,336 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of United Rentals by 41.0% during the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock worth $740,624,000 after purchasing an additional 305,491 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Insider Activity

In related news, EVP Michael D. Durand sold 1,100 shares of the 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 transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew B. Limoges sold 708 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares in the company, valued at $1,355,957.06. This represents a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on URI. Morgan Stanley upgraded shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price on the stock in a research report on Wednesday, April 16th. Citigroup decreased their target price on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Robert W. Baird boosted their target price on shares of United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and a consensus price target of $753.64.

United Rentals Stock Performance

URI traded down $21.83 during trading hours on Friday, hitting $695.09. 468,449 shares of the stock were exchanged, compared to its average volume of 589,769. The stock has a 50-day simple moving average of $662.96 and a 200-day simple moving average of $691.40. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98. The stock has a market cap of $45.18 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

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 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 the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm earned $9.15 earnings per share. United Rentals's revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

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 1.03%. United Rentals's dividend payout ratio is 18.54%.

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.