United Rentals, Inc. $URI Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in United Rentals, Inc. (NYSE:URI) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 363,321 shares of the construction company’s stock after selling 9,030 shares during the quarter. Bank of New York Mellon Corp’s holdings in United Rentals were worth $294,043,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in URI. Norges Bank purchased a new stake in United Rentals during the 4th quarter worth approximately $978,017,000. Capital International Investors raised its holdings in shares of United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after purchasing an additional 631,484 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of United Rentals by 66.5% in the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock valued at $462,485,000 after purchasing an additional 193,416 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after buying an additional 191,162 shares during the last quarter. Finally, Capital World Investors grew its position in shares of United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after buying an additional 168,685 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Up 2.6%

URI stock opened at $1,083.52 on Friday. United Rentals, Inc. has a one year low of $682.08 and a one year high of $1,091.23. The stock has a market capitalization of $67.88 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.68 and a beta of 1.81. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The company has a fifty day moving average of $879.45 and a 200-day moving average of $850.87.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the business posted $8.86 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that United Rentals, Inc. will post 47.07 EPS for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is 20.10%.

Insider Activity

In other news, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares in the company, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. This trade represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,088 shares of company stock worth $25,628,877 over the last quarter. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on URI. Weiss Ratings raised shares of United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Evercore reissued an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Royal Bank Of Canada raised their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,030.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Twelve analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and an average target price of $1,013.63.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.