Carnegie Investment Counsel Sells 754 Shares of United Rentals, Inc. (NYSE:URI)

Carnegie Investment Counsel decreased its position in United Rentals, Inc. (NYSE:URI - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,962 shares of the construction company's stock after selling 754 shares during the period. Carnegie Investment Counsel's holdings in United Rentals were worth $8,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of URI. Fourth Dimension Wealth LLC bought a new position in shares of United Rentals in the first quarter valued at approximately $26,000. TruNorth Capital Management LLC boosted its holdings in shares of United Rentals by 1,266.7% in the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after acquiring an additional 38 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of United Rentals in the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. boosted its holdings in shares of United Rentals by 241.7% in the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after acquiring an additional 29 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

URI has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research report on Thursday. Redburn Atlantic downgraded shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price for the company. in a research report on Friday, June 13th. KeyCorp increased their target price on shares of United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a research report on Friday. Barclays increased their target price on shares of United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research report on Monday. Finally, Truist Financial increased their price target on shares of United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of "Moderate Buy" and an average target price of $812.64.

United Rentals Stock Up 1.5%

Shares of United Rentals stock traded up $13.16 on Friday, hitting $888.41. The company had a trading volume of 872,750 shares, compared to its average volume of 634,406. The firm has a market capitalization of $57.16 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.14 and a beta of 1.69. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.79. The stock has a 50-day moving average of $747.81 and a 200-day moving average of $693.93.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.70 EPS. Research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, August 13th. United Rentals's payout ratio is presently 18.54%.

Insider Activity

In related news, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were 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 in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew B. Limoges sold 708 shares of the company'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 completion of the transaction, the vice president owned 1,921 shares in the company, 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. 0.53% of the stock is owned by corporate insiders.

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.