Mayflower Financial Advisors LLC Sells 39 Shares of United Rentals, Inc. (NYSE:URI)

Mayflower Financial Advisors LLC lessened its stake in United Rentals, Inc. (NYSE:URI) by 10.7% in the first quarter, Holdings Channel reports. The firm owned 325 shares of the construction company’s stock after selling 39 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in United Rentals were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in United Rentals during the 1st quarter worth approximately $26,000. TruNorth Capital Management LLC increased its position in United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company’s stock valued at $26,000 after acquiring an additional 38 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in United Rentals during the fourth quarter valued at about $27,000. Meeder Asset Management Inc. grew its holdings in United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock valued at $29,000 after purchasing an additional 29 shares during the period. Finally, Grove Bank & Trust bought a new position in shares of United Rentals in the first quarter worth about $36,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Up 2.4%

Shares of URI opened at $817.86 on Friday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79. The business’s 50 day simple moving average is $734.18 and its 200-day simple moving average is $688.54. The stock has a market capitalization of $53.16 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.95 and a beta of 1.69.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $9.15 EPS. As a group, equities analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Wednesday, May 14th. United Rentals’s payout ratio is currently 18.54%.

Insider Transactions at United Rentals

In other news, EVP Michael D. Durand sold 1,100 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the transaction, the executive vice president directly owned 8,748 shares of the company’s stock, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $499,748.88. Following the completion of the sale, the vice president owned 1,921 shares of the company’s stock, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore ISI reduced their price objective on United Rentals from $974.00 to $921.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Citigroup reaffirmed a “buy” rating and set a $810.00 price target (up previously from $740.00) on shares of United Rentals in a research report on Tuesday, June 24th. The Goldman Sachs Group upped their price objective 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. Morgan Stanley raised shares of United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $920.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $768.54.

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.