United Rentals, Inc. $URI Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its holdings in shares of United Rentals, Inc. (NYSE:URI) by 25.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,922 shares of the construction company’s stock after selling 670 shares during the period. Wedbush Securities Inc.’s holdings in United Rentals were worth $2,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. PFG Investments LLC raised its holdings in United Rentals by 0.9% during the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after purchasing an additional 11 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of United Rentals by 16.9% in the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock valued at $86,000 after buying an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after buying an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. grew its position 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 buying an additional 12 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its position in shares of United Rentals by 2.0% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after buying an additional 12 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Trading Up 0.0%

Shares of United Rentals stock opened at $1,030.64 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The company has a market capitalization of $64.15 billion, a P/E ratio of 24.75, a PEG ratio of 1.33 and a beta of 1.80. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The company’s fifty day moving average is $1,097.31 and its two-hundred day moving average is $957.73.

United Rentals (NYSE:URI) last announced its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the prior year, the company earned $10.47 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. Analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals’s dividend payout ratio is currently 18.92%.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on URI. Morgan Stanley set a $1,335.00 price target on shares of United Rentals and gave the company an “overweight” rating in a research report on Friday, July 24th. Citigroup lifted their target price on United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price for the company in a research report on Monday, June 29th. Truist Financial lifted their price target on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, UBS Group boosted their price objective on United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

About United Rentals

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.