Institute for Wealth Management LLC. increased its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,391 shares of the construction company's stock after acquiring an additional 703 shares during the period. United Rentals comprises approximately 0.7% of Institute for Wealth Management LLC.'s portfolio, making the stock its 27th biggest holding. Institute for Wealth Management LLC.'s holdings in United Rentals were worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of URI. Union Bancaire Privee UBP SA acquired a new stake in United Rentals in the fourth quarter valued at approximately $16,253,000. Principal Securities Inc. raised its holdings in shares of United Rentals by 43.4% during the 4th quarter. Principal Securities Inc. now owns 2,658 shares of the construction company's stock valued at $1,873,000 after purchasing an additional 805 shares in the last quarter. Allworth Financial LP raised its holdings in shares of United Rentals by 33.4% during the 4th quarter. Allworth Financial LP now owns 759 shares of the construction company's stock valued at $594,000 after purchasing an additional 190 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of United Rentals by 116.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 589 shares of the construction company's stock valued at $415,000 after purchasing an additional 317 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of United Rentals by 3.3% in the 4th quarter. CIBC Asset Management Inc now owns 10,054 shares of the construction company's stock valued at $7,082,000 after purchasing an additional 325 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at United Rentals
In other news, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction that occurred 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 sale, the executive vice president now owns 8,748 shares of the company's stock, valued at approximately $5,478,697.44. This trade represents a 11.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the business'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 sale, the vice president now owns 1,921 shares in the company, valued at approximately $1,355,957.06. This represents a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
United Rentals Stock Up 0.5%
Shares of URI stock opened at $698.39 on Thursday. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The firm has a market cap of $45.39 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The stock has a 50 day moving average of $669.10 and a 200-day moving average of $689.11.
United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). The company had revenue of $3.72 billion for 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%. United Rentals's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.15 earnings per share. On average, equities analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.
United Rentals Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Wednesday, May 14th. United Rentals's payout ratio is presently 18.54%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on URI. Morgan Stanley upgraded United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price on the stock in a report on Wednesday, April 16th. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective on the stock. in a report on Friday, June 13th. The Goldman Sachs Group raised their price objective on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Evercore ISI decreased their target price on United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Finally, Bank of America lowered their price target on United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $753.64.
Get Our Latest Analysis on URI
United Rentals Profile
(
Free Report)
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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