United Rentals, Inc. (NYSE:URI) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its position in United Rentals, Inc. (NYSE:URI - Free Report) by 75.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 289 shares of the construction company's stock after selling 881 shares during the period. Exchange Traded Concepts LLC's holdings in United Rentals were worth $181,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $25,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of United Rentals during the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. grew its holdings 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 in the last quarter. OFI Invest Asset Management bought a new position in United Rentals in the 4th quarter worth approximately $36,000. Finally, NBC Securities Inc. acquired a new stake in United Rentals in the 1st quarter valued at approximately $40,000. 96.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on URI shares. UBS Group upgraded United Rentals from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $485.00 to $780.00 in a research report on Friday, May 16th. Redburn Atlantic downgraded shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective for the company. in a report on Friday, June 13th. Robert W. Baird raised their target price 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. Bank of America dropped their price target on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Morgan Stanley raised shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $753.64.

Insider Activity at United Rentals

In related 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 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 approximately $1,355,957.06. This trade represents a 26.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 1,100 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

United Rentals Stock Up 1.6%

URI stock opened at $716.57 on Tuesday. The firm has a market cap of $46.58 billion, a PE ratio of 18.55, a P/E/G ratio of 1.72 and a beta of 1.71. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79. The firm has a 50 day simple moving average of $676.34 and a 200 day simple moving average of $683.44.

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 the consensus estimate of $8.92 by ($0.06). The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. United Rentals's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.15 EPS. Equities research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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 was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.00%. United Rentals's dividend payout ratio (DPR) is 18.54%.

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.

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