Wedge Capital Management L L P NC Purchases 1,139 Shares of United Rentals, Inc. (NYSE:URI)

Wedge Capital Management L L P NC grew its position in United Rentals, Inc. (NYSE:URI - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,724 shares of the construction company's stock after buying an additional 1,139 shares during the period. Wedge Capital Management L L P NC's holdings in United Rentals were worth $9,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in URI. Rialto Wealth Management LLC bought a new stake in shares of United Rentals in the 4th quarter worth $25,000. Murphy & Mullick Capital Management Corp bought a new stake in United Rentals in the 4th quarter worth about $27,000. Meeder Asset Management Inc. raised its position in United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock worth $29,000 after buying an additional 29 shares during the last quarter. Kestra Investment Management LLC bought a new position in United Rentals during the 4th quarter valued at about $34,000. Finally, OFI Invest Asset Management purchased a new stake in shares of United Rentals during the 4th quarter valued at about $36,000. Institutional investors own 96.26% of the company's stock.

United Rentals Price Performance

Shares of URI traded down $3.62 during trading hours on Thursday, reaching $716.33. 376,572 shares of the stock traded hands, compared to its average volume of 593,072. The company has a market cap of $46.56 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The company's 50-day moving average price is $656.94 and its two-hundred day moving average price is $694.79. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98.

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 the consensus estimate of $8.92 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.61 billion. During the same quarter in the previous year, the firm earned $9.15 EPS. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 1.00%. United Rentals's dividend payout ratio is presently 18.54%.

Insiders Place Their Bets

In other news, EVP Michael D. Durand sold 1,100 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 8,748 shares in the company, valued at approximately $5,478,697.44. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction dated 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 sale, the vice president now owns 1,921 shares of the company's stock, valued at $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. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of research analyst reports. Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and lowered their price objective for the company from $705.00 to $666.00 in a research report on Tuesday, March 25th. Bank of America dropped their price target 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. UBS Group raised United Rentals from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $485.00 to $780.00 in a report on Friday, May 16th. Cfra Research raised United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Truist Financial upped their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $753.15.

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.