Pictet Asset Management Holding SA Has $37.75 Million Stock Position in United Rentals, Inc. $URI

Pictet Asset Management Holding SA lessened its holdings in United Rentals, Inc. (NYSE:URI) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,825 shares of the construction company’s stock after selling 6,373 shares during the period. Pictet Asset Management Holding SA owned 0.08% of United Rentals worth $37,754,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Gleason Group Inc. raised its holdings in United Rentals by 4.3% during the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock valued at $218,000 after buying an additional 11 shares in the last quarter. Bridgewater Advisors Inc. boosted its stake in shares of United Rentals by 1.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after acquiring an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after acquiring an additional 11 shares during the last quarter. Fearless Solutions LLC dba Best Invest increased its holdings in shares of United Rentals by 2.2% during the 4th quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company’s stock valued at $448,000 after acquiring an additional 12 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its stake in shares of United Rentals by 3.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock valued at $260,000 after acquiring an additional 12 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This represents a 5.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares of the company’s stock, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,088 shares of company stock worth $25,628,877 in the last three months. Corporate insiders own 0.47% of the company’s stock.

United Rentals Trading Up 1.0%

Shares of URI stock opened at $1,133.64 on Wednesday. The firm has a market capitalization of $71.02 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 1.79 and a beta of 1.81. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,143.69. The firm’s fifty day simple moving average is $1,000.42 and its 200 day simple moving average is $886.92. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last issued its quarterly 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). The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. United Rentals’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $8.86 earnings per share. As a group, sell-side analysts predict that United Rentals, Inc. will post 46.76 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is presently 20.10%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on URI shares. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research report on Wednesday, June 10th. JPMorgan Chase & Co. boosted their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Evercore reaffirmed an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. KeyCorp raised their target price on shares of United Rentals from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Finally, Robert W. Baird lifted their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,096.75.

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.