Glenmede Trust Co. NA Has $4.88 Million Stock Position in United Rentals, Inc. $URI

Glenmede Trust Co. NA boosted its position in shares of United Rentals, Inc. (NYSE:URI) by 7.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,695 shares of the construction company’s stock after purchasing an additional 439 shares during the quarter. Glenmede Trust Co. NA’s holdings in United Rentals were worth $4,878,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of United Rentals during the fourth quarter worth approximately $978,017,000. Corient Private Wealth LLC lifted its holdings in United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after buying an additional 324,503 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after acquiring an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in United Rentals in the fourth quarter valued at approximately $102,945,000. Finally, Victory Capital Management Inc. grew its holdings in United Rentals by 103.7% during the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock worth $186,967,000 after acquiring an additional 117,584 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

URI has been the subject of several recent research reports. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price for the company in a research report on Monday, June 29th. Argus reaffirmed a “buy” rating and set a $1,250.00 price objective on shares of United Rentals in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Citigroup upped their price objective on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Price Performance

URI opened at $1,149.42 on Wednesday. The stock has a market cap of $71.54 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.44 and a beta of 1.80. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,177.67. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The company has a fifty day simple moving average of $1,075.06 and a 200 day simple moving average of $928.14.

United Rentals (NYSE:URI) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company posted $10.47 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, research analysts expect that United Rentals, Inc. will post 48.35 EPS for the current year.

United Rentals Dividend Announcement

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

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

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.