NewEdge Advisors LLC Decreases Stock Holdings in United Rentals, Inc. $URI

NewEdge Advisors LLC decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 29.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,457 shares of the construction company’s stock after selling 600 shares during the period. NewEdge Advisors LLC’s holdings in United Rentals were worth $1,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after purchasing an additional 30,263 shares during the period. Franklin Resources Inc. increased its stake in shares of United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after acquiring an additional 28,895 shares during the period. Norges Bank purchased a new position in shares of United Rentals during the fourth quarter worth $978,017,000. Bank of America Corp DE lifted its position in United Rentals by 14.7% during the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock valued at $587,496,000 after purchasing an additional 103,371 shares during the period. Finally, Boston Partners boosted its holdings in United Rentals by 4.0% in the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock valued at $631,459,000 after purchasing an additional 29,675 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the firm’s 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 sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

United Rentals Price Performance

URI stock opened at $1,166.11 on Tuesday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. 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 stock has a market cap of $72.58 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80. The business has a fifty day moving average of $1,096.63 and a two-hundred day moving average of $942.44.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.22 billion. During the same period last year, the business earned $10.47 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on URI. Argus reaffirmed a “buy” rating and set a $1,250.00 target price on shares of United Rentals in a report on Tuesday, August 4th. Barclays raised their price target on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. Bank of America lifted their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Wells Fargo & Company upped their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the stock an “overweight” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and an average target price of $1,246.19.

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.