Hedeker Wealth LLC Cuts Stock Holdings in United Rentals, Inc. (NYSE:URI)

Hedeker Wealth LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,444 shares of the construction company’s stock after selling 68 shares during the quarter. United Rentals makes up about 2.0% of Hedeker Wealth LLC’s portfolio, making the stock its 14th biggest holding. Hedeker Wealth LLC’s holdings in United Rentals were worth $6,810,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after acquiring an additional 1,799,997 shares in the last quarter. Norges Bank purchased a new stake in United Rentals in the 4th quarter worth $977,443,000. International Assets Investment Management LLC increased its holdings in United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after acquiring an additional 1,041,281 shares in the last quarter. AMF Tjanstepension AB increased its holdings in United Rentals by 59.9% in the 1st quarter. AMF Tjanstepension AB now owns 257,246 shares of the construction company’s stock worth $185,539,000 after acquiring an additional 96,323 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after acquiring an additional 72,066 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on URI shares. The Goldman Sachs Group boosted their price target on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Citigroup initiated coverage on shares of United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price on the stock. Finally, Truist Financial lowered their target price on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $637.67.

Insider Activity at United Rentals

In related news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,431,557.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value 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 disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

United Rentals Trading Up 0.5 %

Shares of URI stock traded up $3.37 on Wednesday, hitting $649.25. 44,800 shares of the stock traded hands, compared to its average volume of 569,312. The firm’s 50-day moving average price is $660.29 and its two-hundred day moving average price is $646.84. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The stock has a market capitalization of $43.23 billion, a PE ratio of 17.49, a PEG ratio of 2.12 and a beta of 1.71. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $732.37.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.95 EPS. As a group, analysts anticipate that United Rentals, Inc. will post 43.71 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors 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 yield of 1.00%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

United Rentals 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.