Harvey Capital Management Inc. Has $10.11 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Harvey Capital Management Inc. reduced its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,134 shares of the construction company's stock after selling 469 shares during the quarter. United Rentals accounts for 2.6% of Harvey Capital Management Inc.'s investment portfolio, making the stock its 7th biggest holding. Harvey Capital Management Inc.'s holdings in United Rentals were worth $10,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Erste Asset Management GmbH raised its holdings in United Rentals by 0.5% during the fourth quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock worth $2,002,000 after purchasing an additional 14 shares during the last quarter. Forum Financial Management LP grew its position in United Rentals by 1.9% during the fourth quarter. Forum Financial Management LP now owns 749 shares of the construction company's stock valued at $528,000 after acquiring an additional 14 shares during the period. Centaurus Financial Inc. grew its position in United Rentals by 1.7% during the fourth quarter. Centaurus Financial Inc. now owns 999 shares of the construction company's stock valued at $704,000 after acquiring an additional 17 shares during the period. HBK Sorce Advisory LLC grew its position in United Rentals by 4.0% during the first quarter. HBK Sorce Advisory LLC now owns 490 shares of the construction company's stock valued at $307,000 after acquiring an additional 19 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its position in United Rentals by 3.6% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 568 shares of the construction company's stock valued at $400,000 after acquiring an additional 20 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

URI has been the subject of several analyst reports. Sanford C. Bernstein raised United Rentals from an "underperform" rating to a "market perform" rating and decreased their target price for the stock from $705.00 to $666.00 in a research report on Tuesday, March 25th. Morgan Stanley raised United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price for the company in a research report on Wednesday, April 16th. Robert W. Baird upped their target price on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. The Goldman Sachs Group upped their target price on United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Truist Financial upped their target price on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $768.54.

United Rentals Stock Performance

URI stock traded down $5.47 on Friday, reaching $814.27. The company's stock had a trading volume of 603,953 shares, compared to its average volume of 587,587. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The company has a market capitalization of $52.93 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 1.99 and a beta of 1.69. The firm has a fifty day moving average of $722.31 and a two-hundred day moving average of $685.83. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. United Rentals had a return on equity of 33.11% and a net margin of 16.38%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $9.15 earnings per share. As a group, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Wednesday, May 14th. United Rentals's payout ratio is currently 18.54%.

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction on Monday, May 12th. The stock was 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 approximately $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 can be accessed through this hyperlink. Also, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $5,478,697.44. The trade was a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.