Allworth Financial LP lifted its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 26.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 634 shares of the construction company’s stock after buying an additional 131 shares during the quarter. Allworth Financial LP’s holdings in United Rentals were worth $251,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in URI. Vanguard Group Inc. raised its holdings in United Rentals by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after purchasing an additional 186,931 shares during the last quarter. Morgan Stanley raised its holdings in United Rentals by 10.8% during the 4th quarter. Morgan Stanley now owns 1,756,009 shares of the construction company’s stock worth $624,121,000 after purchasing an additional 170,958 shares during the last quarter. Norges Bank bought a new stake in United Rentals during the 4th quarter worth about $586,415,000. Geode Capital Management LLC raised its holdings in United Rentals by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,402,080 shares of the construction company’s stock worth $497,410,000 after purchasing an additional 22,189 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in United Rentals by 104,089.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock worth $476,961,000 after purchasing an additional 1,340,676 shares during the last quarter. 91.46% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Stifel Nicolaus dropped their price objective on United Rentals from $505.00 to $498.00 in a report on Friday, April 28th. UBS Group lowered their price target on United Rentals from $490.00 to $458.00 in a research note on Friday, April 28th. Credit Suisse Group lowered their price target on United Rentals from $544.00 to $482.00 in a research note on Friday, April 28th. Morgan Stanley lowered their price target on United Rentals from $441.00 to $435.00 and set an “equal weight” rating for the company in a research note on Thursday, April 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on United Rentals from $399.00 to $406.00 and gave the company a “hold” rating in a research note on Wednesday, April 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, United Rentals has an average rating of “Hold” and an average price target of $419.92.
United Rentals Price Performance
United Rentals (NYSE:URI – Free Report) last released its quarterly earnings results on Wednesday, April 26th. The construction company reported $7.95 earnings per share for the quarter, missing analysts’ consensus estimates of $8.12 by ($0.17). United Rentals had a return on equity of 36.77% and a net margin of 17.65%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same period last year, the company earned $5.73 EPS. The company’s revenue was up 30.2% compared to the same quarter last year. Sell-side analysts predict that United Rentals, Inc. will post 39.67 EPS for the current fiscal year.
United Rentals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, May 9th. United Rentals’s dividend payout ratio (DPR) is currently 18.99%.
Insiders Place Their Bets
In other news, CFO William E. Grace sold 725 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $359.63, for a total value of $260,731.75. Following the completion of the sale, the chief financial officer now owns 6,520 shares of the company’s stock, valued at approximately $2,344,787.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.46% of the company’s stock.
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.
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