United Rentals, Inc. (NYSE:URI) Shares Sold by Lyrical Asset Management LP

Key Points

• Lyrical Asset Management LP reduced its stake in United Rentals, Inc. by 2.1%, now holding approximately 570,326 shares worth around $357 million, making it the fund's second largest holding.
• For the recent quarter, United Rentals reported an earnings per share (EPS) of $10.47, slightly below analysts' expectations, but its revenue of $3.94 billion exceeded estimates.
• The firm announced a quarterly dividend of $1.79 per share, with an ex-dividend date of August 13th, representing an annual yield of 0.8%.

Lyrical Asset Management LP lessened its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 570,326 shares of the construction company's stock after selling 12,218 shares during the quarter. United Rentals comprises about 5.5% of Lyrical Asset Management LP's portfolio, making the stock its 2nd largest holding. Lyrical Asset Management LP owned approximately 0.88% of United Rentals worth $357,423,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of URI. Fourth Dimension Wealth LLC acquired a new position in shares of United Rentals in the 1st quarter valued at approximately $26,000. TruNorth Capital Management LLC raised its position in shares of United Rentals by 1,266.7% in the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after buying an additional 38 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of United Rentals by 69.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after buying an additional 20 shares in the last quarter. Grove Bank & Trust acquired a new position in shares of United Rentals in the 1st quarter valued at approximately $36,000. Finally, NBC Securities Inc. acquired a new position in shares of United Rentals in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Trading Up 1.7%

NYSE:URI opened at $932.51 on Thursday. The firm's fifty day moving average is $792.97 and its 200-day moving average is $706.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $933.32. The firm has a market cap of $60.00 billion, a P/E ratio of 24.11, a P/E/G ratio of 2.12 and a beta of 1.72.

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

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.79 per share. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.8%. United Rentals's dividend payout ratio is presently 18.52%.

Analyst Ratings Changes

Several brokerages have recently commented on URI. Robert W. Baird boosted their target price on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Redburn Atlantic cut shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective for the company. in a research report on Friday, June 13th. Barclays upped their price objective on shares of United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. Morgan Stanley upped their price objective on shares of United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $834.64.

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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