Sowell Financial Services LLC Takes Position in United Rentals, Inc. (NYSE:URI)

Sowell Financial Services LLC bought a new position in United Rentals, Inc. (NYSE:URI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 3,060 shares of the construction company's stock, valued at approximately $1,918,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its stake in United Rentals by 17.1% during the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after buying an additional 323,636 shares during the period. Geode Capital Management LLC lifted its holdings in shares of United Rentals by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock worth $1,115,142,000 after acquiring an additional 20,401 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of United Rentals by 16.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock worth $880,778,000 after acquiring an additional 172,340 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of United Rentals by 9.8% during the 4th quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock worth $770,199,000 after purchasing an additional 97,336 shares during the period. Finally, Capital International Investors grew its holdings in United Rentals by 41.0% during the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after purchasing an additional 305,491 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Stock Up 0.9%

Shares of NYSE:URI traded up $6.61 during trading hours on Friday, hitting $705.28. The company's stock had a trading volume of 714,662 shares, compared to its average volume of 586,801. The firm's fifty day moving average price is $673.94 and its 200 day moving average price is $686.88. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The company has a market capitalization of $45.84 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.71 and a beta of 1.70. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share 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 company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same quarter in the prior year, the company earned $9.15 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 1.02%. The ex-dividend date was Wednesday, May 14th. United Rentals's dividend payout ratio is presently 18.54%.

Insider Transactions at United Rentals

In other news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the sale, the vice president now directly owns 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were 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 now directly owns 8,748 shares in the company, valued at approximately $5,478,697.44. The trade was a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

URI has been the subject of several analyst reports. UBS Group raised shares of United Rentals from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $485.00 to $780.00 in a research note on Friday, May 16th. Morgan Stanley raised United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target for the company in a research note on Wednesday, April 16th. Truist Financial upped their price objective on United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Robert W. Baird lifted their target price on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $780.00 to $920.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $753.64.

About United Rentals

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.