Synergy Asset Management LLC Makes New Investment in United Rentals, Inc. (NYSE:URI)

Synergy Asset Management LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,663 shares of the construction company's stock, valued at approximately $9,189,000. United Rentals comprises approximately 1.2% of Synergy Asset Management LLC's investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds also recently made changes to their positions in URI. Norges Bank purchased a new position in shares of United Rentals during the fourth quarter worth about $695,716,000. GAMMA Investing LLC grew its holdings in shares of United Rentals by 77,674.5% during the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock worth $556,138,000 after purchasing an additional 886,266 shares during the last quarter. Leigh Baldwin & CO. LLC purchased a new position in shares of United Rentals during the fourth quarter worth about $330,989,000. Capital World Investors grew its holdings in shares of 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 purchasing an additional 323,636 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock worth $740,624,000 after buying 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 Price Performance

URI stock opened at $705.28 on Friday. The firm has a 50 day moving average of $673.94 and a 200-day moving average of $685.62. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $896.98. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The company has a market cap of $45.84 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.72 and a beta of 1.70.

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 net margin of 16.38% and a return on equity of 33.11%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the business posted $9.15 earnings per share. United Rentals's revenue was up 6.7% on a year-over-year basis. As a group, equities analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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 annualized dividend and a dividend yield of 1.02%. United Rentals's dividend payout ratio is currently 18.54%.

Analyst Ratings Changes

URI has been the topic of a number of research reports. Citigroup lowered their price target on United Rentals from $720.00 to $650.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI reduced their price objective on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Morgan Stanley upgraded shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price objective for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group raised their price objective 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. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $753.64.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 now directly owns 8,748 shares in the company, valued at $5,478,697.44. The trade was a 11.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the business's stock in a transaction 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 now 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 disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

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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