United Rentals, Inc. (NYSE:URI) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its holdings in United Rentals, Inc. by 6.6%, now owning 19,913 shares valued at approximately $12.48 million.
• In the latest earnings report, United Rentals missed analysts' expectations with $10.47 EPS, although its revenue of $3.94 billion exceeded estimates and reflected a year-over-year increase of 4.5%.
• The company recently announced a quarterly dividend of $1.79 per share, representing a yield of 0.8%, with a payout ratio of 18.52%.

US Bancorp DE reduced its position in United Rentals, Inc. (NYSE:URI - Free Report) by 6.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 19,913 shares of the construction company's stock after selling 1,408 shares during the period. US Bancorp DE's holdings in United Rentals were worth $12,480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank increased its position in shares of United Rentals by 8.8% in the fourth quarter. Huntington National Bank now owns 385 shares of the construction company's stock worth $271,000 after purchasing an additional 31 shares during the last quarter. Arete Wealth Advisors LLC grew its position in United Rentals by 99.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 613 shares of the construction company's stock valued at $432,000 after acquiring an additional 305 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in United Rentals during the fourth quarter valued at approximately $802,000. Resona Asset Management Co. Ltd. bought a new position in United Rentals during the fourth quarter valued at approximately $14,071,000. Finally, Envestnet Asset Management Inc. grew its position in United Rentals by 10.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 125,163 shares of the construction company's stock valued at $88,170,000 after acquiring an additional 12,028 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

NYSE:URI traded down $7.68 during mid-day trading on Thursday, reaching $853.58. The company's stock had a trading volume of 298,649 shares, compared to its average volume of 658,660. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $903.60. The firm's fifty day moving average price is $774.58 and its two-hundred day moving average price is $702.91. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The stock has a market cap of $54.92 billion, a P/E ratio of 22.12, a PEG ratio of 2.00 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results 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). United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The business had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $3.90 billion. During the same period last year, the firm posted $10.70 EPS. United Rentals's quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.79 per share. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) is presently 18.52%.

Analyst Ratings Changes

A number of research analysts have commented on URI shares. Robert W. Baird increased their price target on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. KeyCorp raised their target price on shares of United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Bank of America lifted their price target on shares of United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 24th. UBS Group lifted their price target on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $830.71.

Insider Activity

In related news, VP Andrew B. Limoges sold 708 shares of the firm's 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 directly owned 1,921 shares of the company's stock, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

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.