Jennison Associates LLC Sells 1,100 Shares of United Rentals, Inc. $URI

Jennison Associates LLC reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,097 shares of the construction company’s stock after selling 1,100 shares during the quarter. Jennison Associates LLC’s holdings in United Rentals were worth $32,856,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Gleason Group Inc. grew its position in United Rentals by 4.3% in the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock valued at $218,000 after acquiring an additional 11 shares during the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of United Rentals by 1.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after acquiring an additional 11 shares during the last quarter. PFG Investments LLC boosted its stake in shares of United Rentals by 0.9% in the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock valued at $854,000 after purchasing an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake 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 purchasing an additional 11 shares in the last quarter. Finally, Fearless Solutions LLC dba Best Invest grew its holdings in shares of United Rentals by 2.2% during the 4th quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company’s stock valued at $448,000 after purchasing an additional 12 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the sale, the chief executive officer owned 99,980 shares in the company, valued at $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,088 shares of company stock worth $25,628,877. Corporate insiders own 0.47% of the company’s stock.

United Rentals Trading Down 3.1%

URI opened at $1,012.39 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,143.69. The company’s 50 day moving average price is $1,042.78 and its two-hundred day moving average price is $912.44. The firm has a market capitalization of $63.43 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.67 and a beta of 1.79.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the business posted $8.86 EPS. United Rentals’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that United Rentals, Inc. will post 46.85 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals’s payout ratio is presently 20.10%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of United Rentals from $1,020.00 to $1,195.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. KeyCorp boosted 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. Royal Bank Of Canada upped their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a research note on Monday, June 29th. Finally, Barclays raised their price objective on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,140.00.

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.