Procyon Advisors LLC Purchases 22 Shares of United Rentals, Inc. (NYSE:URI)

Procyon Advisors LLC increased its position in shares of United Rentals, Inc. (NYSE:URI) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 763 shares of the construction company’s stock after acquiring an additional 22 shares during the quarter. Procyon Advisors LLC’s holdings in United Rentals were worth $537,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in URI. International Assets Investment Management LLC raised its position in shares of United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. Marshall Wace LLP grew its stake in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after purchasing an additional 108,360 shares during the period. JPMorgan Chase & Co. increased its holdings in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares during the last quarter. FMR LLC lifted its stake in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after buying an additional 85,325 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in United Rentals by 10.5% during the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after buying an additional 66,957 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America increased their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a report on Tuesday, January 14th. Finally, Citigroup lowered their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average price target of $805.08.

United Rentals Stock Up 1.8 %

Shares of United Rentals stock opened at $770.81 on Friday. The firm has a market cap of $50.58 billion, a PE ratio of 20.13, a P/E/G ratio of 1.46 and a beta of 1.69. The business’s 50 day simple moving average is $778.79 and its 200 day simple moving average is $761.58. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. United Rentals, Inc. has a 52-week low of $553.22 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.73 EPS. On average, analysts predict that United Rentals, Inc. will post 43.46 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Insider Activity at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by company insiders.

About United Rentals

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.