Bank of New York Mellon Corp Cuts Stake in United Rentals, Inc. (NYSE:URI)

Bank of New York Mellon Corp lessened its stake in United Rentals, Inc. (NYSE:URI) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 407,811 shares of the construction company’s stock after selling 24,396 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of United Rentals worth $287,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new stake in United Rentals during the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals during the third quarter valued at approximately $31,000. Hanson & Doremus Investment Management purchased a new position in United Rentals in the 4th quarter worth approximately $33,000. Kestra Investment Management LLC bought a new position in United Rentals in the 4th quarter valued at approximately $34,000. Finally, Carmichael Hill & Associates Inc. lifted its position in United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

URI opened at $642.29 on Thursday. The company has a 50 day simple moving average of $724.58 and a two-hundred day simple moving average of $769.00. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The firm has a market cap of $41.95 billion, a P/E ratio of 16.58, a PEG ratio of 1.43 and a beta of 1.68. United Rentals, Inc. has a 1-year low of $596.48 and a 1-year high of $896.98.

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

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.11%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on URI. Evercore ISI reduced their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Argus upped their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Truist Financial reiterated a “buy” rating and issued a $956.00 price target (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Finally, Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $829.00.

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.