United Rentals, Inc. (NYSE:URI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank reduced its stake in United Rentals by 34.1%, now holding 90,098 shares valued at approximately $56.46 million.
• United Rentals announced a quarterly dividend of $1.79 per share, with the dividend yield standing at 0.81% and a payout ratio of 18.52%.
• The company's stock has demonstrated significant volatility, with a twelve-month low of $525.91 and a high of $896.98.

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 34.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,098 shares of the construction company's stock after selling 46,642 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.14% of United Rentals worth $56,464,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Capital World Investors increased its position in shares of United Rentals by 17.1% in the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after acquiring an additional 323,636 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of United Rentals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock valued at $1,115,142,000 after purchasing an additional 20,401 shares during the period. Alliancebernstein L.P. boosted its stake in shares of United Rentals by 16.0% in the fourth quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock valued at $880,778,000 after purchasing an additional 172,340 shares during the period. Franklin Resources Inc. boosted its stake in shares of United Rentals by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock valued at $770,199,000 after purchasing an additional 97,336 shares during the period. Finally, Capital International Investors boosted its stake in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after purchasing an additional 305,491 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Stock Performance

Shares of United Rentals stock traded up $4.23 during trading hours on Thursday, reaching $884.65. The company's stock had a trading volume of 157,478 shares, compared to its average volume of 664,165. The company's 50 day simple moving average is $758.38 and its 200 day simple moving average is $698.40. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. United Rentals, Inc. has a one year low of $525.91 and a one year high of $903.60. The stock has a market cap of $56.92 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) 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 the consensus estimate of $3.90 billion. During the same quarter in the previous year, the business posted $10.70 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, 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 will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.81%. United Rentals's payout ratio is currently 18.52%.

Insider Activity

In related news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction dated 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 owned 1,921 shares of the company's stock, valued at $1,355,957.06. This trade represents a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on URI shares. 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 note on Tuesday, May 27th. Citigroup restated a "buy" rating and issued a $810.00 target price (up from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. KeyCorp upped their target price on shares of United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Barclays upped their target price on shares of United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of "Moderate Buy" and an average price target of $830.71.

About United Rentals

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.