Patton Albertson Miller Group LLC Has $8.02 Million Stock Holdings in United Rentals, Inc. (NYSE:URI)

Patton Albertson Miller Group LLC cut its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,790 shares of the construction company's stock after selling 2,052 shares during the quarter. United Rentals makes up 1.2% of Patton Albertson Miller Group LLC's portfolio, making the stock its 22nd biggest holding. Patton Albertson Miller Group LLC's holdings in United Rentals were worth $8,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new position in United Rentals during the first quarter worth $26,000. TruNorth Capital Management LLC boosted its holdings in United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after acquiring an additional 38 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in United Rentals during the fourth quarter valued at about $27,000. Meeder Asset Management Inc. boosted its holdings in United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after acquiring an additional 29 shares during the period. Finally, Grove Bank & Trust bought a new stake in United Rentals during the first quarter valued at about $36,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on URI shares. Morgan Stanley upgraded shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price for the company in a research note on Wednesday, April 16th. Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research note on Friday, April 25th. Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and cut their target price for the company from $705.00 to $666.00 in a research note on Tuesday, March 25th. Citigroup reiterated a "buy" rating and issued a $810.00 target price (up previously from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. Finally, Truist Financial lifted their target price on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $768.54.

Insider Activity at United Rentals

In related news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president owned 1,921 shares of the company's stock, valued at $1,355,957.06. This represents a 26.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the completion of the transaction, the executive vice president directly owned 8,748 shares of the company's stock, valued at approximately $5,478,697.44. The trade was a 11.17% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

United Rentals Stock Up 2.4%

Shares of URI stock opened at $817.86 on Friday. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98. The stock has a market cap of $53.16 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.95 and a beta of 1.69. The firm's 50-day moving average is $734.18 and its 200-day moving average is $688.54. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 0.85.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the company posted $9.15 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.88%. United Rentals's payout ratio is presently 18.54%.

United Rentals 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.

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