Pinebridge Investments L.P. Trims Stake in United Rentals, Inc. (NYSE:URI)

Pinebridge Investments L.P. reduced its position in United Rentals, Inc. (NYSE:URI - Free Report) by 49.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,171 shares of the construction company's stock after selling 10,003 shares during the period. Pinebridge Investments L.P.'s holdings in United Rentals were worth $7,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in URI. Norges Bank purchased a new position in shares of United Rentals in the 4th quarter valued at about $695,716,000. Capital World Investors increased its holdings in United Rentals by 17.1% in the 4th 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. Capital International Investors raised its position in United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock worth $740,624,000 after acquiring an additional 305,491 shares during the period. Marshall Wace LLP lifted its holdings in United Rentals by 105.6% during the fourth quarter. Marshall Wace LLP now owns 546,165 shares of the construction company's stock valued at $384,740,000 after purchasing an additional 280,502 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at about $171,733,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction 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. The trade was a 11.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citigroup cut their price objective on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their target price on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a report on Friday, March 21st. Morgan Stanley raised shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target on the stock in a research note on Wednesday, April 16th. Sanford C. Bernstein upgraded United Rentals from an "underperform" rating to a "market perform" rating and dropped their price target for the company from $705.00 to $666.00 in a research report on Tuesday, March 25th. Finally, Evercore ISI dropped their target price on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $725.69.

United Rentals Stock Down 1.1 %

Shares of NYSE URI traded down $6.69 during midday trading on Wednesday, hitting $623.49. The company's stock had a trading volume of 145,082 shares, compared to its average volume of 589,922. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The firm has a market capitalization of $40.53 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The business's fifty day simple moving average is $613.03 and its two-hundred day simple moving average is $723.88. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). The business had revenue of $3.72 billion during 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 was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.15 EPS. On average, equities analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, May 14th. United Rentals's dividend payout ratio is presently 18.54%.

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.