United Rentals, Inc. (NYSE:URI) Stake Increased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC grew its holdings in United Rentals, Inc. (NYSE:URI) by 13.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 913 shares of the construction company’s stock after purchasing an additional 106 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in United Rentals were worth $572,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of URI. Norges Bank purchased a new stake in shares of United Rentals in the fourth quarter valued at $695,716,000. GAMMA Investing LLC increased its stake in shares of United Rentals by 77,674.5% in the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company’s stock worth $556,138,000 after acquiring an additional 886,266 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of United Rentals in the fourth quarter worth $330,989,000. Capital World Investors increased its stake in shares of United Rentals by 17.1% in the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock worth $1,564,722,000 after acquiring an additional 323,636 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after acquiring an additional 305,491 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 0.1%

URI opened at $707.36 on Tuesday. The stock has a market capitalization of $45.98 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.43 and a beta of 1.70. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98. The firm’s fifty day simple moving average is $651.35 and its 200 day simple moving average is $694.47. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the firm posted $9.15 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a dividend of $1.79 per share. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 annualized dividend and a dividend yield of 1.01%. United Rentals’s dividend payout ratio is presently 18.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of United Rentals from $770.00 to $850.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Robert W. Baird upped their price target on shares of United Rentals from $535.00 to $571.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of United Rentals from $780.00 to $920.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Evercore ISI lowered their target price on shares of United Rentals from $974.00 to $921.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Finally, Bank of America lowered their target price on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $753.15.

Insider Transactions at United Rentals

In related news, EVP Michael D. Durand sold 1,100 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the transaction, the executive vice president now owns 8,748 shares in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares in the company, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company 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.