United Rentals, Inc. $URI Shares Sold by Alight Capital Management LP

Key Points

• Alight Capital Management reduced its United Rentals stake by 20% in the fourth quarter, selling 2,000 shares and leaving it with 8,000 shares valued at about $6.48 million.
• United Rentals reported mixed quarterly results, with EPS of $9.71 missing estimates and revenue of $3.99 billion also below expectations, though revenue still rose 7.2% year over year.
• Analysts remain largely upbeat on URI, with 13 Buy ratings and a consensus Moderate Buy rating; several firms recently raised price targets, including UBS and KeyCorp to $1,145 and $1,150 respectively.

Alight Capital Management LP cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the construction company's stock after selling 2,000 shares during the period. United Rentals comprises about 1.7% of Alight Capital Management LP's investment portfolio, making the stock its 22nd biggest holding. Alight Capital Management LP's holdings in United Rentals were worth $6,475,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Aventura Private Wealth LLC acquired a new position in United Rentals in the fourth quarter worth about $27,000. Core Wealth Advisors LLC acquired a new position in United Rentals in the fourth quarter worth about $28,000. Board of the Pension Protection Fund acquired a new position in United Rentals in the fourth quarter worth about $32,000. Laurel Wealth Advisors LLC acquired a new position in United Rentals in the fourth quarter worth about $32,000. Finally, Fortitude Family Office LLC grew its stake in United Rentals by 121.1% in the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock worth $34,000 after purchasing an additional 23 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of NYSE URI opened at $1,050.43 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The firm's 50-day moving average price is $940.51 and its two-hundred day moving average price is $867.96. United Rentals, Inc. has a 52-week low of $692.70 and a 52-week high of $1,106.88. The stock has a market capitalization of $65.81 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.69 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the business earned $8.86 EPS. The business's revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that United Rentals, Inc. will post 47.26 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals's payout ratio is 20.10%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on URI. Sanford C. Bernstein set a $903.00 price target on United Rentals and gave the stock an "outperform" rating in a research note on Thursday, April 9th. UBS Group lifted their price target on United Rentals from $1,025.00 to $1,145.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Evercore reiterated an "outperform" rating and issued a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. Weiss Ratings raised shares of United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Finally, KeyCorp raised their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,045.81.

Insiders Place Their Bets

In other news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the sale, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is currently owned by corporate insiders.

United Rentals Profile

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.