Principal Financial Group Inc. Cuts Stock Position in United Rentals, Inc. (NYSE:URI)

Principal Financial Group Inc. trimmed its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,531 shares of the construction company's stock after selling 2,726 shares during the period. Principal Financial Group Inc. owned about 0.11% of United Rentals worth $46,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blueshift Asset Management LLC acquired a new stake in shares of United Rentals in the 4th quarter valued at about $649,000. Penobscot Investment Management Company Inc. lifted its position in United Rentals by 35.1% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,114 shares of the construction company's stock worth $2,898,000 after buying an additional 1,068 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in United Rentals by 32.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,220 shares of the construction company's stock worth $1,391,000 after buying an additional 550 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of United Rentals during the 1st quarter valued at $602,000. Finally, Callan Family Office LLC raised its holdings in United Rentals by 87.6% in the 4th quarter. Callan Family Office LLC now owns 1,124 shares of the construction company's stock worth $792,000 after acquiring an additional 525 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Trading Up 2.0%

URI stock traded up $15.95 during midday trading on Thursday, reaching $819.94. The company's stock had a trading volume of 581,571 shares, compared to its average volume of 587,777. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 0.85. The stock has a fifty day simple moving average of $715.77 and a two-hundred day simple moving average of $684.83. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The firm has a market capitalization of $53.30 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.93 and a beta of 1.69.

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

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's payout ratio is 18.54%.

Insider Activity

In other news, EVP Michael D. Durand sold 1,100 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president directly owned 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was 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 approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on URI. Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and decreased their target price for the company from $705.00 to $666.00 in a research report on Tuesday, March 25th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Truist Financial raised their target price on shares of United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, Robert W. Baird lifted their price objective on shares of United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, United Rentals presently has an average rating of "Moderate Buy" and an average target price of $768.54.

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.