Wellington Management Group LLP Sells 4,449 Shares of United Rentals, Inc. (NYSE:URI)

Wellington Management Group LLP trimmed its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 84.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 834 shares of the construction company's stock after selling 4,449 shares during the quarter. Wellington Management Group LLP's holdings in United Rentals were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company's stock valued at $637,968,000 after acquiring an additional 105,287 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of United Rentals in the fourth quarter valued at approximately $16,253,000. DAVENPORT & Co LLC raised its stake in shares of United Rentals by 35.3% in the fourth quarter. DAVENPORT & Co LLC now owns 1,001 shares of the construction company's stock valued at $705,000 after acquiring an additional 261 shares during the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of United Rentals by 14.6% in the fourth quarter. Stratos Wealth Advisors LLC now owns 642 shares of the construction company's stock valued at $453,000 after acquiring an additional 82 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of United Rentals by 29.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,945 shares of the construction company's stock valued at $8,489,000 after acquiring an additional 2,742 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

URI has been the subject of several research analyst reports. Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and dropped their price objective for the stock from $705.00 to $666.00 in a research report on Tuesday, March 25th. Truist Financial boosted their price objective on shares of United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Bank of America dropped their price objective on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a research report on Friday, March 21st. UBS Group upgraded shares of United Rentals from a "sell" rating to a "neutral" rating and upped their target price for the company from $485.00 to $780.00 in a research report on Friday, May 16th. Finally, The Goldman Sachs Group upped their target price on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $753.15.

United Rentals Stock Performance

Shares of URI stock traded up $3.82 on Wednesday, reaching $719.56. The stock had a trading volume of 529,155 shares, compared to its average volume of 593,938. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.43 and a beta of 1.70. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98. The firm's 50-day moving average is $656.94 and its two-hundred day moving average is $694.79.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.15 EPS. On average, research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's payout ratio is currently 18.54%.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the sale, the executive vice president now directly owns 8,748 shares of the company's stock, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the business's 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 now owns 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

United Rentals Company 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.