Harvest Fund Management Co. Ltd Sells 385 Shares of United Rentals, Inc. (NYSE:URI)

Harvest Fund Management Co. Ltd cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 47.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 424 shares of the construction company’s stock after selling 385 shares during the period. Harvest Fund Management Co. Ltd’s holdings in United Rentals were worth $298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. Proficio Capital Partners LLC bought a new stake in United Rentals during the 4th quarter worth about $171,733,000. Raymond James Financial Inc. bought a new stake in United Rentals during the 4th quarter worth about $164,493,000. JPMorgan Chase & Co. lifted its position in United Rentals by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after buying an additional 105,287 shares in the last quarter. FMR LLC lifted its position in United Rentals by 3.7% during the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares in the last quarter. Finally, National Pension Service lifted its position in United Rentals by 79.8% during the 4th quarter. National Pension Service now owns 167,813 shares of the construction company’s stock worth $118,214,000 after buying an additional 74,479 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI dropped their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley dropped their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Bank of America dropped their target price on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday. Finally, Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $815.67.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the transaction, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

United Rentals Stock Performance

NYSE URI opened at $628.63 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $41.05 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.43 and a beta of 1.76. The firm’s 50 day simple moving average is $696.39 and its 200 day simple moving average is $756.39. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98.

United Rentals (NYSE:URI) last issued 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%. As a group, research analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.14%. United Rentals’s dividend payout ratio is presently 18.48%.

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.