United Rentals, Inc. (NYSE:URI) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,216 shares of the construction company's stock after buying an additional 20,053 shares during the period. Envestnet Asset Management Inc. owned about 0.22% of United Rentals worth $91,007,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of URI. Proficio Capital Partners LLC purchased a new position in United Rentals in the fourth quarter valued at $244,000. Summit X LLC raised its holdings in United Rentals by 19.0% in the fourth quarter. Summit X LLC now owns 414 shares of the construction company's stock valued at $292,000 after acquiring an additional 66 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in United Rentals by 15.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,559 shares of the construction company's stock worth $1,098,000 after acquiring an additional 213 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in United Rentals by 10.2% during the 4th quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock worth $220,000 after acquiring an additional 29 shares in the last quarter. Finally, Erste Asset Management GmbH increased its position in shares of United Rentals by 0.5% in the 4th quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock valued at $2,002,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Citigroup reiterated a "buy" rating and set a $810.00 target price (up previously from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. UBS Group upgraded United Rentals from a "sell" rating to a "neutral" rating and increased their price objective for the company from $485.00 to $780.00 in a report on Friday, May 16th. Truist Financial boosted their target price on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Robert W. Baird increased their price target on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Finally, The Goldman Sachs Group boosted their target price on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $768.54.

Insider Activity

In other news, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president directly owned 1,921 shares of the company's stock, valued at $1,355,957.06. This trade represents a 26.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $688,908.00. Following the transaction, the executive vice president directly owned 8,748 shares of the company's stock, valued at $5,478,697.44. The trade was a 11.17% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

United Rentals Price Performance

Shares of URI traded down $5.47 during mid-day trading on Friday, hitting $814.27. The company's stock had a trading volume of 603,953 shares, compared to its average volume of 498,595. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. 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 $52.93 billion, a P/E ratio of 19.09, a P/E/G ratio of 2.00 and a beta of 1.69. The firm has a 50-day simple moving average of $719.35 and a 200 day simple moving average of $685.52.

United Rentals (NYSE:URI - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $3.61 billion. During the same quarter in the prior year, the business earned $9.15 EPS. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued 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 yield of 0.88%. United Rentals's dividend payout ratio (DPR) is currently 18.54%.

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.