United Rentals, Inc. (NYSE:URI) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. cut its stake in United Rentals, Inc. (NYSE:URI) by 0.9% in the fourth quarter, Holdings Channel reports. The fund owned 7,980 shares of the construction company’s stock after selling 69 shares during the period. United Rentals accounts for about 0.7% of Institute for Wealth Management LLC.’s portfolio, making the stock its 19th largest holding. Institute for Wealth Management LLC.’s holdings in United Rentals were worth $4,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of URI. Janney Montgomery Scott LLC grew its position in United Rentals by 6.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock valued at $9,588,000 after acquiring an additional 1,304 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in United Rentals in the 4th quarter valued at about $2,351,000. Graybill Wealth Management LTD. grew its position in United Rentals by 0.6% in the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after acquiring an additional 58 shares in the last quarter. Pinnacle Associates Ltd. grew its position in United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after acquiring an additional 2,289 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in United Rentals in the 4th quarter valued at about $22,529,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of United Rentals stock traded down $5.66 during trading hours on Friday, hitting $627.22. 338,974 shares of the company were exchanged, compared to its average volume of 575,781. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average of $680.37 and a 200-day moving average of $569.06. The stock has a market capitalization of $42.13 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 2.21 and a beta of 1.84.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.85 by $0.41. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. United Rentals’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.74 earnings per share. As a group, analysts expect that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a $1.63 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio (DPR) is currently 18.44%.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BNP Paribas reissued an “underperform” rating and set a $485.00 price objective on shares of United Rentals in a research report on Friday, January 5th. Barclays boosted their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th. Morgan Stanley assumed coverage on United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective for the company. Evercore ISI boosted their price objective on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $589.21.

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.