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

Bank of New York Mellon Corp decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 360,979 shares of the construction company’s stock after selling 2,342 shares during the quarter. Bank of New York Mellon Corp owned 0.58% of United Rentals worth $262,994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors boosted its holdings in United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after buying an additional 30,263 shares in the last quarter. Franklin Resources Inc. boosted its holdings in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares during the last quarter. Norges Bank acquired a new position in shares of United Rentals during the fourth quarter valued at approximately $978,017,000. Boston Partners boosted its stake in United Rentals by 4.0% during the 4th quarter. Boston Partners now owns 774,347 shares of the construction company’s stock worth $631,459,000 after purchasing an additional 29,675 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of United Rentals by 0.9% during the third quarter. Invesco Ltd. now owns 649,608 shares of the construction company’s stock worth $620,155,000 after buying an additional 5,497 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president directly 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upped their target price on United Rentals from $1,210.00 to $1,270.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley lifted their target price on shares of United Rentals from $1,030.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Evercore reiterated an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Finally, UBS Group boosted their price target on shares of United Rentals from $1,145.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $1,140.00.

United Rentals Trading Down 2.6%

NYSE URI opened at $1,043.73 on Friday. The firm has a 50 day simple moving average of $1,041.31 and a 200-day simple moving average of $910.42. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,143.69. The firm has a market cap of $65.39 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.71 and a beta of 1.79.

United Rentals (NYSE:URI) last announced its 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). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the company earned $8.86 earnings per share. United Rentals’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 46.77 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

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.