Bank of New York Mellon Corp Sells 24,396 Shares of United Rentals, Inc. (NYSE:URI)

Bank of New York Mellon Corp cut its position in shares of United Rentals, Inc. (NYSE:URI) by 5.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 407,811 shares of the construction company’s stock after selling 24,396 shares during the period. Bank of New York Mellon Corp’s holdings in United Rentals were worth $287,278,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Brown Financial Advisors boosted its position in shares of United Rentals by 4.1% during the 4th quarter. Brown Financial Advisors now owns 1,829 shares of the construction company’s stock valued at $1,288,000 after acquiring an additional 72 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in United Rentals by 23.8% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 5,780 shares of the construction company’s stock valued at $4,072,000 after purchasing an additional 1,110 shares in the last quarter. IFP Advisors Inc lifted its position in United Rentals by 9.1% during the fourth quarter. IFP Advisors Inc now owns 3,442 shares of the construction company’s stock valued at $2,426,000 after purchasing an additional 288 shares during the last quarter. Waverton Investment Management Ltd grew its stake in shares of United Rentals by 1.8% in the 4th quarter. Waverton Investment Management Ltd now owns 214,455 shares of the construction company’s stock worth $150,992,000 after buying an additional 3,867 shares in the last quarter. Finally, Colonial River Investments LLC bought a new stake in shares of United Rentals in the 4th quarter worth about $205,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 0.6 %

NYSE:URI opened at $642.29 on Thursday. The company has a market cap of $41.95 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. United Rentals, Inc. has a twelve month low of $596.48 and a twelve month high of $896.98. 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 stock has a fifty day simple moving average of $724.58 and a 200-day simple moving average of $769.00.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 EPS for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.79 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.11%. United Rentals’s payout ratio is presently 18.48%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research note on Tuesday, January 14th. Evercore ISI cut their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Argus raised their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Citigroup dropped their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $829.00.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The stock was 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. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.49% of the stock is owned by insiders.

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.