NewEdge Wealth LLC Trims Position in United Rentals, Inc. (NYSE:URI)

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

Several other institutional investors also recently added to or reduced their stakes in URI. ORG Wealth Partners LLC purchased a new position in United Rentals during the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in United Rentals during the 3rd quarter valued at about $31,000. Hanson & Doremus Investment Management purchased a new position in United Rentals during the 4th quarter valued at about $33,000. Kestra Investment Management LLC purchased a new position in United Rentals during the 4th quarter valued at about $34,000. Finally, Carmichael Hill & Associates Inc. increased its position in 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. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 1.4 %

URI stock opened at $633.65 on Friday. The firm has a 50 day moving average of $723.03 and a 200 day moving average of $768.06. The stock has a market capitalization of $41.38 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 52 week low of $596.48 and a 52 week high of $896.98.

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

United Rentals Increases Dividend

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

Insider Buying and Selling

In related news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction that occurred on 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 directly owns 6,880 shares in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on URI. Truist Financial reissued a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Citigroup cut their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Argus raised their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their price target 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. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price 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.