United Rentals, Inc. (NYSE:URI) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC cut its stake in United Rentals, Inc. (NYSE:URI) by 19.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,223 shares of the construction company’s stock after selling 290 shares during the period. Beacon Pointe Advisors LLC’s holdings in United Rentals were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in URI. Wilmington Savings Fund Society FSB acquired a new stake in shares of United Rentals in the 3rd quarter worth about $2,147,000. Tidal Investments LLC grew its position in 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 purchasing an additional 624 shares during the last quarter. Synovus Financial Corp increased its stake in shares of United Rentals by 8.4% in the third quarter. Synovus Financial Corp now owns 634 shares of the construction company’s stock valued at $513,000 after purchasing an additional 49 shares during the period. Franklin Resources Inc. increased its stake in shares of United Rentals by 6.1% in the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after purchasing an additional 57,002 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of United Rentals by 3.3% during the third quarter. Principal Financial Group Inc. now owns 79,235 shares of the construction company’s stock valued at $64,159,000 after buying an additional 2,554 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Cfra Research raised United Rentals to a “strong-buy” rating in a report on Friday, April 25th. Morgan Stanley raised United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target on the stock in a report on Wednesday, April 16th. UBS Group downgraded shares of United Rentals from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $910.00 to $485.00 in a report on Monday, April 7th. Truist Financial boosted their price target on shares of United Rentals from $732.00 to $786.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and decreased their price objective for the company from $705.00 to $666.00 in a report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $725.69.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

United Rentals Stock Up 4.0 %

Shares of United Rentals stock opened at $666.21 on Friday. 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 $43.30 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The stock’s fifty day moving average is $613.33 and its 200-day moving average is $720.72.

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

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, May 14th. United Rentals’s dividend payout ratio is currently 18.54%.

United Rentals Company 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.