United Rentals, Inc. $URI Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,979 shares of the construction company’s stock after selling 2,342 shares during the quarter. Bank of New York Mellon Corp’s holdings in United Rentals were worth $262,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of URI. Geneos Wealth Management Inc. boosted its stake in United Rentals by 9.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company’s stock worth $7,855,000 after purchasing an additional 950 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of United Rentals in the first quarter valued at about $141,000. MASTERINVEST Kapitalanlage GmbH raised its holdings in shares of United Rentals by 112.7% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 553 shares of the construction company’s stock valued at $403,000 after buying an additional 293 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of United Rentals by 9.8% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,447 shares of the construction company’s stock worth $19,240,000 after buying an additional 2,350 shares during the last quarter. Finally, Camden National Bank increased its holdings in shares of United Rentals by 10.0% in the first quarter. Camden National Bank now owns 428 shares of the construction company’s stock valued at $312,000 after purchasing an additional 39 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on URI. Morgan Stanley upped their price target on United Rentals from $1,030.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Friday. Evercore reissued an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a research note on Monday, May 11th. Royal Bank Of Canada upped their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. KeyCorp raised their target price on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Truist Financial increased their price target on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,140.00.

United Rentals Trading Down 2.6%

Shares of United Rentals stock opened at $1,043.73 on Friday. The company has a 50-day moving average of $1,041.31 and a two-hundred day moving average of $910.42. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock has a market cap of $65.39 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.71 and a beta of 1.79.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate 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 $3.98 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the firm earned $8.86 EPS. United Rentals’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that United Rentals, Inc. will post 46.77 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared 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. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s payout ratio is 20.10%.

Insider Transactions at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 26,088 shares of company stock worth $25,628,877. Corporate insiders own 0.47% of the company’s stock.

United Rentals Company 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.