QRG Capital Management Inc. Decreases Stock Position in United Rentals, Inc. $URI

QRG Capital Management Inc. decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 13.1% during the first quarter, Holdings Channel.com reports. The fund owned 3,496 shares of the construction company’s stock after selling 529 shares during the period. QRG Capital Management Inc.’s holdings in United Rentals were worth $2,547,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of URI. Woodline Partners LP increased its stake in United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Sei Investments Co. grew its holdings in shares of United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after buying an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of United Rentals by 43.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after acquiring an additional 17,030 shares during the period. HUB Investment Partners LLC increased its position in shares of United Rentals by 11.3% in the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC raised its stake in United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,277 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI traded down $44.20 during trading on Tuesday, reaching $1,055.48. 49,015 shares of the company traded hands, compared to its average volume of 606,703. The stock has a market cap of $66.13 billion, a P/E ratio of 26.94, a PEG ratio of 1.76 and a beta of 1.79. The firm’s fifty day simple moving average is $1,020.47 and its 200 day simple moving average is $894.90. 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, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS 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 analysts’ expectations of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.86 EPS. As a group, research analysts anticipate that United Rentals, Inc. will post 46.76 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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

Insider Activity

In related news, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at $14,227,362. The trade was a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,088 shares of company stock valued at $25,628,877 in the last quarter. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on URI shares. Bank of America boosted their price target on United Rentals from $1,020.00 to $1,195.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. raised their price objective on United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Citigroup upped their target price on United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a research report on Friday, April 24th. KeyCorp raised their price target on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Barclays lifted their price objective on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,119.69.

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.