Summit Financial LLC Decreases Stake in United Rentals, Inc. (NYSE:URI)

Summit Financial LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,535 shares of the construction company’s stock after selling 119 shares during the quarter. Summit Financial LLC’s holdings in United Rentals were worth $7,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of United Rentals during the 4th quarter valued at about $695,716,000. Proficio Capital Partners LLC bought a new position in United Rentals during the fourth quarter valued at approximately $171,733,000. Raymond James Financial Inc. bought a new position in United Rentals in the fourth quarter worth approximately $164,493,000. Alliancebernstein L.P. raised its stake in United Rentals by 16.0% during the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company’s stock worth $880,778,000 after acquiring an additional 172,340 shares during the period. Finally, TD Asset Management Inc. raised its holdings in United Rentals by 207.8% during the fourth quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock valued at $165,097,000 after acquiring an additional 158,214 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of research reports. Morgan Stanley reduced their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research report on Tuesday, January 14th. Citigroup dropped their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. 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. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $804.15.

Insider Buying and Selling at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Trading Down 2.9 %

Shares of United Rentals stock opened at $627.10 on Monday. The firm has a fifty day moving average price of $686.97 and a 200 day moving average price of $755.28. The stock has a market cap of $40.97 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

United Rentals (NYSE:URI) last posted 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 net margin of 16.78% and a return on equity of 34.21%. Equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. 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 1.14%. United Rentals’s dividend payout ratio (DPR) is 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.