Wealthfront Advisers LLC Cuts Stake in United Rentals, Inc. (NYSE:URI)

Wealthfront Advisers LLC trimmed its stake in United Rentals, Inc. (NYSE:URI) by 13.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,117 shares of the construction company’s stock after selling 1,241 shares during the period. Wealthfront Advisers LLC’s holdings in United Rentals were worth $5,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. grew its stake in United Rentals by 4.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 23,462 shares of the construction company’s stock valued at $14,703,000 after purchasing an additional 1,063 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in United Rentals during the first quarter worth $4,514,000. Baer Investment Advisory LLC raised its stake in shares of United Rentals by 0.6% in the first quarter. Baer Investment Advisory LLC now owns 3,202 shares of the construction company’s stock valued at $2,007,000 after acquiring an additional 18 shares in the last quarter. Apollon Wealth Management LLC raised its stake in United Rentals by 11.1% in the first quarter. Apollon Wealth Management LLC now owns 1,449 shares of the construction company’s stock valued at $908,000 after buying an additional 145 shares in the last quarter. Finally, Sigma Planning Corp grew its holdings in shares of United Rentals by 19.9% during the first quarter. Sigma Planning Corp now owns 2,311 shares of the construction company’s stock worth $1,448,000 after purchasing an additional 383 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

NYSE URI opened at $817.86 on Friday. 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 has a 50 day moving average price of $734.18 and a 200 day moving average price of $688.54. The company has a market capitalization of $53.16 billion, a P/E ratio of 21.18, a PEG ratio of 1.95 and a beta of 1.69. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $896.98.

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

United Rentals Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley upgraded United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price objective for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group boosted their price objective on shares of United Rentals from $770.00 to $850.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Citigroup restated a “buy” rating and issued a $810.00 target price (up previously from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. UBS Group upgraded shares of United Rentals from a “sell” rating to a “neutral” rating and raised their price target for the company from $485.00 to $780.00 in a research note on Friday, May 16th. Finally, Robert W. Baird raised their target price on shares of United Rentals from $535.00 to $571.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $768.54.

Insiders Place Their Bets

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the completion of the transaction, the executive vice president owned 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction that occurred on 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 transaction, the vice president owned 1,921 shares of the company’s stock, valued at $1,355,957.06. This trade represents a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

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.