Chesley Taft & Associates LLC Trims Holdings in United Rentals, Inc. (NYSE:URI)

Chesley Taft & Associates LLC lessened its stake in United Rentals, Inc. (NYSE:URI) by 16.0% in the first quarter, Holdings Channel reports. The institutional investor owned 4,408 shares of the construction company’s stock after selling 838 shares during the quarter. Chesley Taft & Associates LLC’s holdings in United Rentals were worth $3,179,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in United Rentals during the 4th quarter worth $2,351,000. Verdence Capital Advisors LLC bought a new position in shares of United Rentals during the fourth quarter worth about $257,000. Nomura Holdings Inc. acquired a new position in United Rentals in the fourth quarter worth about $780,000. Pinnacle Associates Ltd. increased its holdings in shares of 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 during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of United Rentals by 46.2% during the 4th quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock valued at $56,982,000 after acquiring an additional 31,398 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In other news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the subject of a number of research reports. Citigroup assumed coverage on shares of United Rentals in a report on Wednesday. They issued a “buy” rating and a $745.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price on the stock. Truist Financial upped their target price on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a report on Monday, April 29th. Stifel Nicolaus raised their price target on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average target price of $619.07.

United Rentals Price Performance

URI traded down $6.79 on Thursday, reaching $623.04. The company had a trading volume of 549,999 shares, compared to its average volume of 572,842. United Rentals, Inc. has a one year low of $387.01 and a one year high of $732.37. The company has a market capitalization of $41.49 billion, a P/E ratio of 16.86, a PEG ratio of 2.07 and a beta of 1.75. The company has a fifty day moving average of $660.21 and a 200-day moving average of $643.23. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period last year, the firm posted $7.95 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.87 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a $1.63 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. United Rentals’s dividend payout ratio (DPR) is 17.66%.

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.