Harvey Capital Management Inc. Sells 410 Shares of United Rentals, Inc. (NYSE:URI)

Harvey Capital Management Inc. cut its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 16,603 shares of the construction company's stock after selling 410 shares during the period. United Rentals accounts for about 2.8% of Harvey Capital Management Inc.'s holdings, making the stock its 6th biggest position. Harvey Capital Management Inc.'s holdings in United Rentals were worth $11,696,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in 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 worth $1,300,962,000 after purchasing an additional 1,604,715 shares during the period. JPMorgan Chase & Co. lifted its position in shares of United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company's stock worth $637,968,000 after purchasing an additional 105,287 shares during the last quarter. FMR LLC lifted its position in shares of United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company's stock worth $1,956,768,000 after purchasing an additional 85,325 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of 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 purchasing an additional 66,957 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company's stock worth $862,110,000 after purchasing an additional 57,002 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Baird R W upgraded shares of United Rentals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Bank of America raised their price objective on shares of United Rentals from $800.00 to $910.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Argus raised their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $814.08.

United Rentals Stock Up 1.6 %

Shares of United Rentals stock traded up $11.73 during midday trading on Friday, reaching $741.10. 415,973 shares of the company's stock traded hands, compared to its average volume of 693,783. The company has a market cap of $48.40 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.68. The company's 50 day simple moving average is $740.77 and its 200 day simple moving average is $769.54. 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 52 week low of $596.48 and a 52 week high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share 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%. Equities analysts expect that United Rentals, Inc. will post 44.93 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 0.97%. The ex-dividend date is Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. United Rentals's dividend payout ratio (DPR) is 16.83%.

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.