Advisors Capital Management LLC Has $23.75 Million Position in United Rentals, Inc. (NYSE:URI)

Advisors Capital Management LLC trimmed its position in United Rentals, Inc. (NYSE:URI - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,710 shares of the construction company's stock after selling 733 shares during the quarter. Advisors Capital Management LLC owned approximately 0.05% of United Rentals worth $23,747,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of URI. Norges Bank acquired a new position in shares of United Rentals during the 4th quarter worth approximately $695,716,000. Proficio Capital Partners LLC bought a new stake in shares of United Rentals during the 4th quarter worth about $171,733,000. Raymond James Financial Inc. acquired a new position in United Rentals in the 4th quarter valued at about $164,493,000. Alliancebernstein L.P. lifted its position in United Rentals by 16.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock worth $880,778,000 after acquiring an additional 172,340 shares during the last quarter. Finally, TD Asset Management Inc. grew its position in shares of United Rentals by 207.8% in the fourth quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company's stock valued at $165,097,000 after purchasing an additional 158,214 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of research reports. UBS Group lowered United Rentals from a "buy" rating to a "sell" rating and decreased their price objective for the company from $910.00 to $485.00 in a report on Monday, April 7th. Robert W. Baird raised shares of United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 price target on the stock in a research report on Tuesday, January 14th. Citigroup cut their price objective on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Bank of America lowered their target price on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Evercore ISI cut their price target on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $729.79.

United Rentals Price Performance

Shares of United Rentals stock traded up $5.57 during midday trading on Friday, hitting $590.80. 367,847 shares of the company traded hands, compared to its average volume of 588,088. The stock has a market cap of $38.60 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.43 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The firm's fifty day moving average price is $632.19 and its 200-day moving average price is $735.11. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts' consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.21%. United Rentals's dividend payout ratio (DPR) is currently 18.48%.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares of the company's stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.

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.