Fisher Funds Management LTD Sells 1,765 Shares of United Rentals, Inc. $URI

Key Points

• Fisher Funds Management reduced its United Rentals stake by 9.5% in the first quarter, selling 1,765 shares and ending with 16,774 shares valued at about $12.2 million.
• Wall Street remains broadly positive on URI, with 13 Buy ratings, two Hold ratings, and one Sell rating; the consensus view is Moderate Buy with an average price target of $1,045.81.
• United Rentals reported Q1 earnings of $9.71 per share, missing expectations, while revenue came in at $3.98 billion versus estimates of $4.20 billion; the stock was trading near its 52-week high at $1,077.68.

Fisher Funds Management LTD cut its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,774 shares of the construction company's stock after selling 1,765 shares during the quarter. Fisher Funds Management LTD's holdings in United Rentals were worth $12,221,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in URI. Gleason Group Inc. lifted its stake in shares of United Rentals by 4.3% during the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company's stock worth $218,000 after purchasing an additional 11 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in United Rentals by 1.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company's stock valued at $783,000 after purchasing an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company's stock valued at $292,000 after purchasing an additional 11 shares during the last quarter. Fearless Solutions LLC dba Best Invest raised its holdings in United Rentals by 2.2% in the fourth quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company's stock worth $448,000 after purchasing an additional 12 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in United Rentals by 3.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company's stock worth $260,000 after purchasing an additional 12 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on URI. Citigroup increased their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Truist Financial set a $1,209.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Raymond James Financial reiterated an "outperform" rating and set a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. KeyCorp increased their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Finally, Morgan Stanley restated an "overweight" rating and issued a $1,030.00 target price on shares of United Rentals in a research note on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of "Moderate Buy" and an average target price of $1,045.81.

United Rentals Trading Up 0.1%

Shares of NYSE:URI opened at $1,077.68 on Monday. The business's 50-day moving average is $953.75 and its 200 day moving average is $871.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a 1 year low of $693.78 and a 1 year high of $1,106.88. The firm has a market capitalization of $67.52 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.70 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last issued 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). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the business posted $8.86 EPS. United Rentals's revenue was up 7.2% compared to the same quarter last year. On average, research analysts predict that United Rentals, Inc. will post 47.26 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a $1.97 dividend. 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 (DPR) is presently 20.10%.

Insider Activity at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joli L. Gross sold 306 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company's stock.

United Rentals Company Profile

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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