Mcrae Capital Management Inc. Sells 560 Shares of United Rentals, Inc. $URI

Mcrae Capital Management Inc. lowered its stake in United Rentals, Inc. (NYSE:URI) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,072 shares of the construction company’s stock after selling 560 shares during the quarter. United Rentals accounts for approximately 2.7% of Mcrae Capital Management Inc.’s portfolio, making the stock its 18th largest position. Mcrae Capital Management Inc.’s holdings in United Rentals were worth $13,008,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Greenspring Advisors LLC bought a new stake in shares of United Rentals in the 4th quarter valued at $286,000. Lido Advisors LLC increased its stake in shares of United Rentals by 2.9% in the 4th quarter. Lido Advisors LLC now owns 15,801 shares of the construction company’s stock valued at $12,788,000 after acquiring an additional 440 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of United Rentals by 64.8% in the 4th quarter. CIBC Asset Management Inc now owns 15,767 shares of the construction company’s stock valued at $12,761,000 after acquiring an additional 6,199 shares in the last quarter. Westpac Banking Corp increased its stake in shares of United Rentals by 19.7% in the 4th quarter. Westpac Banking Corp now owns 261 shares of the construction company’s stock valued at $211,000 after acquiring an additional 43 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its stake in shares of United Rentals by 2.0% in the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock valued at $56,315,000 after acquiring an additional 1,354 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares in the company, valued at approximately $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,088 shares of company stock valued at $25,628,877 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of several research analyst reports. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the company an “outperform” rating in a research note on Thursday, April 9th. Morgan Stanley reiterated an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Truist Financial set a $1,209.00 price objective on shares of United Rentals in a research note on Friday, April 24th. Finally, Weiss Ratings raised United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,013.63.

United Rentals Price Performance

Shares of NYSE:URI opened at $1,060.93 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a twelve month low of $682.08 and a twelve month high of $1,067.88. The stock’s 50 day moving average is $872.71 and its 200-day moving average is $849.10. The firm has a market capitalization of $66.47 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.58 and a beta of 1.81.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the company earned $8.86 earnings per share. United Rentals’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that United Rentals, Inc. will post 47.07 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis 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 presently 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.