Renaissance Investment Group LLC Sells 1,386 Shares of United Rentals, Inc. (NYSE:URI)

Key Points

• Renaissance Investment Group LLC reduced its stake in United Rentals by 6.8%, now holding 19,116 shares valued at approximately $11.98 million.
• United Rentals recently reported a quarterly EPS of $10.47, missing analysts' expectations and had a revenue of $3.94 billion, reflecting a 4.5% year-over-year increase.
• The company announced a quarterly dividend of $1.79, with an annualized yield of 0.80%, set to be paid on August 27th.

Renaissance Investment Group LLC trimmed its position in United Rentals, Inc. (NYSE:URI - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,116 shares of the construction company's stock after selling 1,386 shares during the quarter. United Rentals accounts for approximately 2.9% of Renaissance Investment Group LLC's portfolio, making the stock its 14th largest holding. Renaissance Investment Group LLC's holdings in United Rentals were worth $11,980,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of URI. Forum Financial Management LP raised its holdings in shares of United Rentals by 1.9% during the 4th quarter. Forum Financial Management LP now owns 749 shares of the construction company's stock valued at $528,000 after buying an additional 14 shares during the period. Centaurus Financial Inc. raised its stake in shares of United Rentals by 1.7% in the 4th quarter. Centaurus Financial Inc. now owns 999 shares of the construction company's stock worth $704,000 after buying an additional 17 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of United Rentals by 3.6% in the 1st quarter. Leavell Investment Management Inc. now owns 515 shares of the construction company's stock worth $323,000 after buying an additional 18 shares in the last quarter. Baer Investment Advisory LLC raised its position in shares of United Rentals by 0.6% during the first quarter. Baer Investment Advisory LLC now owns 3,202 shares of the construction company's stock worth $2,007,000 after purchasing an additional 18 shares during the period. Finally, HBK Sorce Advisory LLC grew its holdings in shares of 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 buying an additional 19 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Down 2.8%

Shares of URI stock traded down $24.59 during trading hours on Friday, hitting $858.35. 466,192 shares of the company's stock traded hands, compared to its average volume of 664,725. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The stock's fifty day simple moving average is $761.99 and its two-hundred day simple moving average is $699.75. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $903.60. The stock has a market cap of $55.23 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 2.03 and a beta of 1.69.

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

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.8%. United Rentals's dividend payout ratio is currently 18.52%.

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the 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 of the company's stock, valued at $1,355,957.06. This represents a 26.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on URI. Truist Financial upped their price target on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Barclays increased their price objective on United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a research report on Monday, July 21st. Cfra Research upgraded United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI dropped their price objective on United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Robert W. Baird lifted their price target on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $830.71.

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.