NewEdge Wealth LLC Sells 266 Shares of United Rentals, Inc. (NYSE:URI)

NewEdge Wealth LLC reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,780 shares of the construction company’s stock after selling 266 shares during the quarter. NewEdge Wealth LLC’s holdings in United Rentals were worth $4,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of URI. ORG Wealth Partners LLC purchased a new position in United Rentals in the fourth quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals during the 3rd quarter valued at about $31,000. Carmichael Hill & Associates Inc. grew its stake in shares of United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after purchasing an additional 20 shares during the period. Hanson & Doremus Investment Management bought a new stake in shares of United Rentals during the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new stake in United Rentals during the fourth quarter valued at approximately $34,000. 96.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Citigroup reduced their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI reduced their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Price Performance

URI stock opened at $633.65 on Friday. United Rentals, Inc. has a 52 week low of $596.48 and a 52 week high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $723.03 and a two-hundred day simple moving average of $768.06. The firm has a market capitalization of $41.38 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is 18.48%.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.49% of the company’s stock.

United Rentals 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.