United Rentals, Inc. (NYSE:URI) Position Cut by M&T Bank Corp

M&T Bank Corp trimmed its position in United Rentals, Inc. (NYSE:URI - Free Report) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,804 shares of the construction company's stock after selling 716 shares during the period. M&T Bank Corp's holdings in United Rentals were worth $3,011,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in United Rentals in the 4th quarter valued at about $244,000. Sequoia Financial Advisors LLC grew its stake in United Rentals by 15.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,559 shares of the construction company's stock valued at $1,098,000 after acquiring an additional 213 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in United Rentals by 10.2% in the 4th quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock valued at $220,000 after purchasing an additional 29 shares in the last quarter. Erste Asset Management GmbH lifted its holdings in 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 in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in United Rentals by 36.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 24,409 shares of the construction company's stock valued at $17,233,000 after purchasing an additional 6,475 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. Bank of America reduced their target price on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Truist Financial upped their target price on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Evercore ISI reduced their target price on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, Citigroup reiterated a "buy" rating and set a $810.00 price objective (up from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. One 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $768.54.

United Rentals Stock Down 1.2%

NYSE:URI traded down $9.39 during trading hours on Tuesday, hitting $799.28. The stock had a trading volume of 723,871 shares, compared to its average volume of 588,210. 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 business has a 50 day simple moving average of $722.31 and a two-hundred day simple moving average of $685.55. The company has a market cap of $51.95 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.99 and a beta of 1.69.

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 the consensus estimate of $8.92 by ($0.06). The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $9.15 EPS. Analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.90%. United Rentals's dividend payout ratio (DPR) is presently 18.54%.

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction 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 owned 1,921 shares of the company's stock, valued at $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the completion of the transaction, the executive vice president directly owned 8,748 shares of the company's stock, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by 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.