Epoch Investment Partners Inc. cut its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,905 shares of the construction company's stock after selling 5,884 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.13% of United Rentals worth $67,097,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Capital International Investors grew its stake in shares of United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock valued at $3,247,762,000 after acquiring an additional 631,484 shares during the period. Capital World Investors grew its stake in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company's stock valued at $2,192,357,000 after acquiring an additional 30,263 shares during the period. Franklin Resources Inc. grew its stake in shares of United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock valued at $1,087,711,000 after acquiring an additional 28,895 shares during the period. Norges Bank bought a new position in shares of United Rentals during the 4th quarter valued at approximately $978,017,000. Finally, Alliancebernstein L.P. grew its stake in shares of United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock valued at $1,038,870,000 after acquiring an additional 57,977 shares during the period. 96.26% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on URI shares. KeyCorp boosted their price objective on United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. UBS Group upped their price target on United Rentals from $1,025.00 to $1,145.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada upped their price target on United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Raymond James Financial restated an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a research note on Wednesday. Finally, Weiss Ratings upgraded United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,045.81.
Get Our Latest Research Report on United Rentals
Insider Transactions at United Rentals
In other news, VP Andrew B. Limoges sold 548 shares of the company's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president directly owned 1,865 shares of the company's stock, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,088 shares of company stock valued at $25,628,877 over the last 90 days. Insiders own 0.47% of the company's stock.
United Rentals Trading Up 0.7%
URI stock opened at $1,076.03 on Friday. United Rentals, Inc. has a 1-year low of $682.08 and a 1-year high of $1,106.88. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The company has a market capitalization of $67.41 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.70 and a beta of 1.81. The business has a 50 day simple moving average of $920.44 and a two-hundred day simple moving average of $862.24.
United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.86 earnings per share. Research analysts anticipate that United Rentals, Inc. will post 47.26 EPS for the current fiscal year.
United Rentals Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals's dividend payout ratio is 20.10%.
About United Rentals
(
Free Report)
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.
Further Reading
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