Meeder Asset Management Inc. Reduces Stock Position in United Rentals, Inc. $URI

Key Points

• Meeder Asset Management slashed its stake in United Rentals by 78.4% in the first quarter, leaving it with 976 shares valued at about $711,000.
• United Rentals shares were down 3.1% to $1,012.39, and the stock has traded between a 52-week low of $701.59 and a high of $1,143.69.
• The company missed quarterly earnings and revenue estimates, posting EPS of $9.71 versus $11.47 expected and revenue of $3.98 billion versus $4.20 billion forecast, even as analysts still broadly rate the stock a Moderate Buy.

Meeder Asset Management Inc. cut its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 78.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 976 shares of the construction company's stock after selling 3,537 shares during the period. Meeder Asset Management Inc.'s holdings in United Rentals were worth $711,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of URI. Norges Bank purchased a new stake in United Rentals during the fourth quarter worth approximately $978,017,000. Corient Private Wealth LLC lifted its stake in United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company's stock valued at $278,378,000 after buying an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock valued at $159,184,000 after buying an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $102,945,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of United Rentals by 103.7% in the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company's stock valued at $186,967,000 after acquiring an additional 117,584 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 3.1%

Shares of URI stock opened at $1,012.39 on Tuesday. The business's fifty day moving average price is $1,042.78 and its 200 day moving average price is $912.44. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,143.69. The firm has a market capitalization of $63.43 billion, a PE ratio of 25.83, a P/E/G ratio of 1.67 and a beta of 1.79. 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 (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) 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 analysts' expectations of $4.20 billion. During the same quarter in the previous year, the company posted $8.86 EPS. The company's revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that United Rentals, Inc. will post 46.85 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, May 13th. United Rentals's dividend payout ratio is presently 20.10%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup lifted their target price on shares of United Rentals from $1,210.00 to $1,270.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Royal Bank Of Canada raised their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Evercore restated an "outperform" rating and issued a $1,101.00 price objective on shares of United Rentals in a research note on Monday, May 11th. Sanford C. Bernstein set a $903.00 target price on shares of United Rentals and gave the company an "outperform" rating in a report on Thursday, April 9th. Finally, Robert W. Baird increased their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,140.00.

Insider Activity at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $2,374,758.00. Following the sale, the executive vice president owned 14,774 shares of the company's stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by corporate insiders.

About United Rentals

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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