Harbor Investment Advisory LLC Boosts Stock Position in United Rentals, Inc. $URI

Harbor Investment Advisory LLC grew its position in shares of United Rentals, Inc. (NYSE:URI) by 22.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,749 shares of the construction company’s stock after purchasing an additional 510 shares during the quarter. Harbor Investment Advisory LLC’s holdings in United Rentals were worth $2,003,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of URI. Premier Path Wealth Partners LLC lifted its position in United Rentals by 12.5% in the 1st quarter. Premier Path Wealth Partners LLC now owns 1,068 shares of the construction company’s stock worth $778,000 after buying an additional 119 shares during the last quarter. Capital Investment Counsel LLC bought a new position in United Rentals during the first quarter valued at approximately $364,000. Moss Adams Wealth Advisors LLC grew its position in United Rentals by 2.0% during the first quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after acquiring an additional 12 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co purchased a new position in shares of United Rentals during the first quarter worth approximately $200,000. Finally, Continuum Advisory LLC purchased a new position in shares of United Rentals during the first quarter worth approximately $1,659,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Up 1.0%

Shares of NYSE URI opened at $1,133.64 on Wednesday. The firm’s fifty day moving average is $1,000.42 and its 200 day moving average is $886.92. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,143.69. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The company has a market cap of $71.02 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.79 and a beta of 1.81.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $8.86 EPS. On average, equities research analysts expect that United Rentals, Inc. will post 46.76 earnings per share for the current year.

United Rentals Dividend Announcement

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

Insider Activity

In related news, CEO Matthew John Flannery sold 22,768 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer owned 99,980 shares in the company, valued at $98,478,300.40. The trade was a 18.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of a number of research reports. KeyCorp upped their price objective on shares of United Rentals from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Barclays increased their target price on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 target price on shares of United Rentals in a research report on Wednesday, June 10th. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a research note on Monday. Finally, Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,096.75.

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.