Freestone Grove Partners LP Buys New Stake in United Rentals, Inc. (NYSE:URI)

Freestone Grove Partners LP bought a new stake in United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 45,829 shares of the construction company’s stock, valued at approximately $32,284,000. Freestone Grove Partners LP owned about 0.07% of United Rentals at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of URI. Wilmington Savings Fund Society FSB purchased a new position in shares of United Rentals in the 3rd quarter valued at $2,147,000. Tidal Investments LLC lifted its stake in shares of United Rentals by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 8,295 shares of the construction company’s stock worth $6,717,000 after acquiring an additional 624 shares during the period. Synovus Financial Corp lifted its stake in shares of United Rentals by 8.4% in the 3rd quarter. Synovus Financial Corp now owns 634 shares of the construction company’s stock worth $513,000 after acquiring an additional 49 shares during the period. Franklin Resources Inc. lifted its stake in shares of United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after acquiring an additional 57,002 shares during the period. Finally, American Trust lifted its stake in shares of United Rentals by 206.3% in the 3rd quarter. American Trust now owns 1,207 shares of the construction company’s stock worth $977,000 after acquiring an additional 813 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Up 0.2 %

NYSE:URI opened at $631.64 on Thursday. The business’s 50-day moving average is $612.54 and its two-hundred day moving average is $723.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98. The firm has a market capitalization of $41.06 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $9.15 earnings per share. Research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $1.79 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 1.13%. United Rentals’s dividend payout ratio (DPR) is 18.54%.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president now directly owns 8,748 shares in the company, valued at approximately $5,478,697.44. This trade represents a 11.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the subject of several recent analyst reports. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on shares of United Rentals from $1,000.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Robert W. Baird raised their price objective on shares of United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Evercore ISI reduced their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $705.00 to $666.00 in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $725.69.

About United Rentals

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.