Gulf International Bank UK Ltd Sells 1,195 Shares of United Rentals, Inc. (NYSE:URI)

Key Points

• Gulf International Bank UK Ltd reduced its stake in United Rentals, Inc. by 23.6%, selling 1,195 shares and now holding 3,861 shares valued at approximately $2.42 million.
• United Rentals recently reported a quarterly earnings per share (EPS) of $10.47, missing estimates slightly, while revenue increased by 4.5% year-over-year to $3.94 billion.
• The company declared a quarterly dividend of $1.79, reflecting an annualized payout of $7.16 and a yield of 0.8%, with a payout ratio of 18.52%.

Gulf International Bank UK Ltd cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 23.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,861 shares of the construction company's stock after selling 1,195 shares during the quarter. Gulf International Bank UK Ltd's holdings in United Rentals were worth $2,419,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in URI. Townsquare Capital LLC grew its stake in shares of United Rentals by 17.9% in the fourth quarter. Townsquare Capital LLC now owns 2,809 shares of the construction company's stock worth $1,979,000 after purchasing an additional 426 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of United Rentals by 4.9% in the fourth quarter. NewEdge Advisors LLC now owns 2,701 shares of the construction company's stock worth $1,903,000 after purchasing an additional 127 shares during the last quarter. Farringdon Capital Ltd. bought a new stake in shares of United Rentals in the fourth quarter worth $370,000. Canada Pension Plan Investment Board grew its stake in shares of United Rentals by 483.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 45,757 shares of the construction company's stock worth $32,233,000 after purchasing an additional 37,919 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of United Rentals by 8.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 83,033 shares of the construction company's stock worth $58,414,000 after purchasing an additional 6,194 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on URI shares. Evercore ISI cut their price target on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Robert W. Baird upped their price target on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Barclays upped their price target on shares of United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a research report on Monday, July 21st. Truist Financial increased their target price on shares of United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, KeyCorp increased their target price on shares of United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $834.64.

United Rentals Stock Down 1.2%

Shares of NYSE URI traded down $11.14 during midday trading on Friday, hitting $910.31. The stock had a trading volume of 372,708 shares, compared to its average volume of 626,014. The business's 50 day moving average is $801.52 and its 200-day moving average is $708.14. The company has a market cap of $58.57 billion, a P/E ratio of 23.54, a PEG ratio of 2.10 and a beta of 1.72. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $933.32. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the company posted $10.70 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. United Rentals's dividend payout ratio is currently 18.52%.

United Rentals Company 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.