Premier Path Wealth Partners LLC Has $481,000 Stock Holdings in United Rentals, Inc. (NYSE:URI)

Premier Path Wealth Partners LLC trimmed its position in United Rentals, Inc. (NYSE:URI) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 768 shares of the construction company’s stock after selling 105 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in United Rentals were worth $481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. Norges Bank acquired a new position in United Rentals in the 4th quarter valued at $695,716,000. GAMMA Investing LLC grew its holdings in United Rentals by 77,674.5% in the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company’s stock valued at $556,138,000 after buying an additional 886,266 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in United Rentals in the 4th quarter valued at $330,989,000. Capital World Investors grew its holdings in United Rentals by 17.1% in the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after buying an additional 323,636 shares in the last quarter. Finally, Capital International Investors grew its holdings in United Rentals by 41.0% in the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock valued at $740,624,000 after buying an additional 305,491 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Sanford C. Bernstein raised 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. JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $920.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Cfra Research upgraded United Rentals to a “strong-buy” rating in a research report on Friday, April 25th. Morgan Stanley upgraded United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 target price for the company in a research report on Wednesday, April 16th. Finally, Truist Financial upped their target price on United Rentals from $732.00 to $786.00 and gave the company a “buy” rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $753.64.

United Rentals Price Performance

Shares of URI stock opened at $698.39 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The company has a market cap of $45.40 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.71 and a beta of 1.70. The business has a fifty day simple moving average of $671.47 and a 200 day simple moving average of $688.02.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). United Rentals had a return on equity of 33.11% and a net margin of 16.38%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the company earned $9.15 EPS. United Rentals’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $1.79 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 1.03%. United Rentals’s payout ratio is presently 18.54%.

Insiders Place Their Bets

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the company’s 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 owns 8,748 shares of the company’s stock, valued at $5,478,697.44. This represents a 11.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew B. Limoges sold 708 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president now directly owns 1,921 shares of the company’s stock, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

United Rentals 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.