United Rentals, Inc. (NYSE:URI) Stock Holdings Lowered by Picton Mahoney Asset Management

Picton Mahoney Asset Management cut its position in United Rentals, Inc. (NYSE:URI - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,177 shares of the construction company's stock after selling 4,553 shares during the quarter. Picton Mahoney Asset Management's holdings in United Rentals were worth $17,304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in United Rentals by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company's stock worth $9,588,000 after purchasing an additional 1,304 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of United Rentals in the 4th quarter worth approximately $2,351,000. Verdence Capital Advisors LLC acquired a new stake in shares of United Rentals in the 4th quarter worth approximately $257,000. Graybill Wealth Management LTD. boosted its holdings in shares of United Rentals by 0.6% in the third quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company's stock valued at $4,218,000 after acquiring an additional 58 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of United Rentals by 55.5% during the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company's stock valued at $3,677,000 after acquiring an additional 2,289 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

URI has been the subject of a number of research analyst reports. Oppenheimer restated a "market perform" rating on shares of United Rentals in a research report on Monday, April 29th. Morgan Stanley initiated coverage on United Rentals in a report on Monday, January 8th. They set an "equal weight" rating and a $500.00 target price on the stock. Truist Financial upped their price target on shares of United Rentals from $793.00 to $796.00 and gave the company a "buy" rating in a report on Monday, April 29th. Wells Fargo & Company lifted their price objective on shares of United Rentals from $630.00 to $710.00 and gave the stock an "overweight" rating in a research note on Friday, January 26th. Finally, Robert W. Baird increased their target price on shares of United Rentals from $322.00 to $559.00 and gave the company an "underperform" rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $600.79.

United Rentals Trading Down 1.2 %

United Rentals stock traded down $8.46 during midday trading on Tuesday, reaching $674.88. The stock had a trading volume of 437,219 shares, compared to its average volume of 584,083. United Rentals, Inc. has a twelve month low of $325.91 and a twelve month high of $732.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The firm has a market cap of $44.94 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.17 and a beta of 1.82. The firm's fifty day simple moving average is $683.58 and its two-hundred day simple moving average is $592.43.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping the consensus estimate of $8.35 by $0.80. The business had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. United Rentals's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $7.95 earnings per share. Equities analysts anticipate that United Rentals, Inc. will post 43.61 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $1.63 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. United Rentals's dividend payout ratio is 17.66%.

United Rentals announced that its board has authorized a stock buyback program on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, CFO William E. Grace sold 775 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the business's stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares of the company's stock, valued at $72,341,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William E. Grace sold 775 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. Insiders have sold 9,713 shares of company stock worth $6,747,384 in the last 90 days. Company insiders own 0.49% of the company's stock.

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.

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