Synergy Asset Management LLC Acquires Shares of 14,663 United Rentals, Inc. (NYSE:URI)

Synergy Asset Management LLC bought a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,663 shares of the construction company's stock, valued at approximately $9,189,000. United Rentals accounts for 1.2% of Synergy Asset Management LLC's holdings, making the stock its 22nd largest position.

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

Insider Buying and Selling

In related news, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president now directly owns 1,921 shares of the company's stock, valued at $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The transaction 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 dated 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 sale, the executive vice president now owns 8,748 shares of the company's stock, valued at approximately $5,478,697.44. This trade represents a 11.17% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

United Rentals Trading Down 0.5%

NYSE URI traded down $3.65 on Wednesday, reaching $737.12. The company had a trading volume of 503,973 shares, compared to its average volume of 586,747. The business has a 50 day moving average of $682.25 and a two-hundred day moving average of $684.21. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $896.98. The firm has a market cap of $47.91 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.81 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 issued its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $3.61 billion. During the same period in the prior year, the company earned $9.15 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Wednesday, May 14th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, May 14th. United Rentals's payout ratio is presently 18.54%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on URI shares. Evercore ISI lowered their price objective on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. The Goldman Sachs Group lifted their target price on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Bank of America cut their target price on United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Sanford C. Bernstein raised shares of United Rentals from an "underperform" rating to a "market perform" rating and reduced their price objective for the stock from $705.00 to $666.00 in a research note on Tuesday, March 25th. Finally, Morgan Stanley raised United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price objective on the stock in a research note on Wednesday, April 16th. 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $765.07.

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.