Envestnet Asset Management Inc. Sells 5,045 Shares of United Rentals, Inc. $URI

Key Points

• Envestnet Asset Management reduced its United Rentals position by 3%, selling 5,045 shares and retaining 161,667 shares valued at approximately $183.2 million. Institutional investors collectively own 96.26% of the company.
• Analyst sentiment remains positive, with 15 Buy ratings, two Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $1,243.62.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, with revenue up 11.8% year over year. The company also declared a quarterly dividend of $1.97 per share, yielding approximately 0.8% annually.

Envestnet Asset Management Inc. decreased its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,667 shares of the construction company's stock after selling 5,045 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of United Rentals worth $183,151,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in shares of United Rentals by 1.1% in the second quarter. State Street Corp now owns 2,993,837 shares of the construction company's stock valued at $3,391,688,000 after purchasing an additional 32,238 shares during the last quarter. Bouchey Financial Group Ltd. raised its holdings in shares of United Rentals by 4.4% in the second quarter. Bouchey Financial Group Ltd. now owns 379 shares of the construction company's stock worth $429,000 after acquiring an additional 16 shares during the last quarter. Capstone Financial Advisors Inc. acquired a new position in shares of United Rentals in the second quarter worth $276,000. Sequoia Financial Advisors LLC lifted its position in shares of United Rentals by 10.0% in the second quarter. Sequoia Financial Advisors LLC now owns 3,472 shares of the construction company's stock valued at $3,933,000 after acquiring an additional 317 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of United Rentals by 109.4% during the second quarter. Tidal Investments LLC now owns 14,447 shares of the construction company's stock valued at $16,367,000 after acquiring an additional 7,547 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

URI has been the topic of several analyst reports. Wall Street Zen cut shares of United Rentals from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Truist Financial upped 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 research note on Friday, July 24th. Weiss Ratings upgraded shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. Citigroup reaffirmed a "buy" rating on shares of United Rentals in a research note on Monday, September 14th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,243.62.

United Rentals Trading Down 1.0%

Shares of URI stock opened at $1,022.02 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The firm's 50 day moving average price is $1,065.86 and its two-hundred day moving average price is $977.46. The stock has a market cap of $63.61 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.53 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.47 earnings per share. On average, analysts anticipate that United Rentals, Inc. will post 48.7 EPS for the current year.

United Rentals Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP William Grace sold 1,500 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by company insiders.

United Rentals Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.

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