United Rentals, Inc. $URI Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its holdings in shares of United Rentals, Inc. (NYSE:URI) by 78.4% in the first quarter, HoldingsChannel.com reports. The fund owned 976 shares of the construction company’s stock after selling 3,537 shares during the quarter. Meeder Asset Management Inc.’s holdings in United Rentals were worth $711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Aventura Private Wealth LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $27,000. Core Wealth Advisors LLC acquired a new position in shares of United Rentals during the 4th quarter worth approximately $28,000. MV Capital Management Inc. acquired a new position in shares of United Rentals during the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC purchased a new stake in United Rentals in the 4th quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC lifted its stake 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 buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on URI. Royal Bank Of Canada raised their price target on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective on the stock in a research report on Monday, June 29th. JPMorgan Chase & Co. increased their price objective on United Rentals from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Truist Financial lifted their price objective on United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Evercore reissued an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,140.00.

United Rentals Price Performance

URI opened at $1,012.39 on Tuesday. The company’s 50 day simple moving average is $1,042.78 and its 200 day simple moving average is $912.44. 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, Inc. has a 1 year low of $701.59 and a 1 year high of $1,143.69. The stock has a market capitalization of $63.43 billion, a PE ratio of 25.83, a P/E/G ratio of 1.67 and a beta of 1.79.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the previous year, the firm posted $8.86 earnings per share. United Rentals’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that United Rentals, Inc. will post 46.85 EPS for the current year.

United Rentals Announces Dividend

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

Insider Transactions at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer owned 99,980 shares in the company, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 26,088 shares of company stock valued at $25,628,877. Corporate insiders own 0.47% of the company’s stock.

United Rentals 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.