United Rentals, Inc. $URI Shares Sold by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC reduced its stake in United Rentals by 33.6% in the fourth quarter, selling 2,162 shares and ending with 4,266 shares worth about $3.45 million.
• Insiders also sold shares, including CEO Matthew John Flannery and EVP Craig Adam Pintoff, with total insider sales of 26,088 shares worth about $25.6 million over the last quarter.
• United Rentals reported Q1 earnings below expectations and revenue short of estimates, though revenue still rose 7.2% year over year; analysts currently rate the stock a Moderate Buy with a consensus target price of $996.94.

NewEdge Wealth LLC cut its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,266 shares of the construction company's stock after selling 2,162 shares during the period. NewEdge Wealth LLC's holdings in United Rentals were worth $3,452,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aventura Private Wealth LLC acquired a new stake in shares of United Rentals during the fourth quarter worth about $27,000. Abich Financial Wealth Management LLC acquired a new stake in shares of United Rentals during the third quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in shares of United Rentals during the fourth quarter worth about $32,000. Laurel Wealth Advisors LLC acquired a new stake in shares of United Rentals during the fourth quarter worth about $32,000. Finally, Fortitude Family Office LLC increased its position in shares of United Rentals by 121.1% during 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. Institutional investors and hedge funds own 96.26% of the company's stock.

Insiders Place Their Bets

In other United Rentals 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 value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last quarter. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

URI has been the topic of a number of research analyst reports. Truist Financial set a $1,209.00 target price on United Rentals in a research report on Friday, April 24th. Weiss Ratings cut United Rentals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 4th. Morgan Stanley reiterated an "overweight" rating and set a $1,030.00 target price on shares of United Rentals in a research report on Friday, April 24th. Robert W. Baird lifted their target price on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada lifted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $996.94.

United Rentals Stock Performance

Shares of URI stock opened at $938.73 on Tuesday. The stock has a market capitalization of $58.81 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.83. United Rentals, Inc. has a 52-week low of $681.98 and a 52-week high of $1,021.47. The stock's 50-day moving average price is $808.46 and its 200 day moving average price is $838.00. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $8.86 EPS. As a group, equities research analysts forecast that United Rentals, Inc. will post 46.99 EPS for the current year.

United Rentals announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

United Rentals Announces Dividend

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

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.

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