Edgemoor Investment Advisors Inc. Sells 787 Shares of United Rentals, Inc. $URI

Edgemoor Investment Advisors Inc. cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,112 shares of the construction company’s stock after selling 787 shares during the quarter. United Rentals comprises 4.4% of Edgemoor Investment Advisors Inc.’s investment portfolio, making the stock its 6th biggest position. Edgemoor Investment Advisors Inc.’s holdings in United Rentals were worth $56,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of URI. Aventura Private Wealth LLC acquired a new position in United Rentals during the fourth quarter worth about $27,000. Abich Financial Wealth Management LLC acquired a new position in United Rentals in the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund acquired a new position in United Rentals in the 4th quarter valued at about $32,000. Laurel Wealth Advisors LLC acquired a new position in United Rentals in the 4th quarter valued at about $32,000. Finally, Fortitude Family Office LLC boosted its holdings in United Rentals by 121.1% in the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after purchasing an additional 23 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This represents a 18.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the sale, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,088 shares of company stock valued at $25,628,877 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on URI shares. Truist Financial set a $1,209.00 target price on shares of United Rentals in a report on Friday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $1,030.00 target price on shares of United Rentals in a report on Friday, April 24th. Robert W. Baird boosted their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a report on Friday, April 24th. KeyCorp boosted their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Barclays boosted their target price on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,006.13.

United Rentals Price Performance

United Rentals stock opened at $996.99 on Friday. The company’s 50 day simple moving average is $854.91 and its 200-day simple moving average is $845.69. The company has a market capitalization of $62.46 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.83. United Rentals, Inc. has a 1 year low of $681.98 and a 1 year high of $1,021.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the company earned $8.86 earnings per share. United Rentals’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s dividend payout ratio is presently 20.10%.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.