Advisors Asset Management Inc. Sells 1,614 Shares of United Rentals, Inc. (NYSE:URI)

Advisors Asset Management Inc. reduced its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,016 shares of the construction company's stock after selling 1,614 shares during the period. Advisors Asset Management Inc.'s holdings in United Rentals were worth $9,169,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Axxcess Wealth Management LLC boosted its stake in United Rentals by 7.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 582 shares of the construction company's stock valued at $410,000 after purchasing an additional 39 shares during the period. TCTC Holdings LLC bought a new stake in shares of United Rentals in the fourth quarter valued at about $42,000. Signaturefd LLC grew its stake in shares of United Rentals by 15.9% in the fourth quarter. Signaturefd LLC now owns 1,767 shares of the construction company's stock valued at $1,245,000 after acquiring an additional 243 shares in the last quarter. Parallel Advisors LLC increased its position in United Rentals by 2.6% during the fourth quarter. Parallel Advisors LLC now owns 1,440 shares of the construction company's stock worth $1,014,000 after acquiring an additional 37 shares during the period. Finally, Cibc World Markets Corp raised its stake in United Rentals by 15.4% in the 4th quarter. Cibc World Markets Corp now owns 10,405 shares of the construction company's stock worth $7,330,000 after purchasing an additional 1,390 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Remove Ads

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares of the company's stock, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

URI has been the topic of several recent research reports. Truist Financial reaffirmed a "buy" rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Robert W. Baird upgraded United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 price objective on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup dropped their price target on United Rentals from $985.00 to $835.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Bank of America reduced their price objective on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $815.67.

United Rentals Price Performance

Shares of URI traded down $2.06 during trading hours on Friday, reaching $628.63. The stock had a trading volume of 766,930 shares, compared to its average volume of 547,569. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98. The stock has a market capitalization of $41.05 billion, a PE ratio of 16.22, a PEG ratio of 1.43 and a beta of 1.76. The company's 50-day moving average is $696.39 and its two-hundred day moving average is $756.77.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.14%. This is a positive change from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals's payout ratio is presently 18.48%.

United Rentals Company Profile

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.