Edgestream Partners L.P. Sells 6,926 Shares of United Rentals, Inc. $URI

Edgestream Partners L.P. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 76.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,079 shares of the construction company’s stock after selling 6,926 shares during the period. Edgestream Partners L.P.’s holdings in United Rentals were worth $1,515,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in URI. Mirae Asset Global Investments Co. Ltd. lifted its holdings in United Rentals by 18.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock valued at $9,514,000 after purchasing an additional 1,846 shares in the last quarter. Eventide Asset Management LLC increased its stake in shares of United Rentals by 19.6% in the fourth quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock worth $77,666,000 after purchasing an additional 15,696 shares in the last quarter. Whittier Trust Co. increased its stake in shares of United Rentals by 2.6% in the fourth quarter. Whittier Trust Co. now owns 61,408 shares of the construction company’s stock worth $54,782,000 after purchasing an additional 1,529 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of United Rentals by 52.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock valued at $2,623,000 after purchasing an additional 1,109 shares during the period. Finally, Addenda Capital Inc. raised its position in shares of United Rentals by 21.3% during the 4th quarter. Addenda Capital Inc. now owns 16,739 shares of the construction company’s stock valued at $13,547,000 after purchasing an additional 2,939 shares during the period. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of NYSE:URI opened at $1,120.41 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,177.67. The company has a market capitalization of $69.73 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.40 and a beta of 1.80. The firm’s 50-day moving average is $1,071.39 and its 200 day moving average is $926.51.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the firm earned $10.47 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts predict that United Rentals, Inc. will post 48.35 EPS for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on URI shares. Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Truist Financial raised their price target on United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. Robert W. Baird set a $1,300.00 price objective on United Rentals in a research report on Friday, July 24th. Finally, Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,226.50.

United Rentals Company Profile

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.