United Rentals, Inc. (NYSE:URI) Stake Reduced by Harvey Capital Management Inc.

Harvey Capital Management Inc. trimmed its position in United Rentals, Inc. (NYSE:URI) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,603 shares of the construction company’s stock after selling 410 shares during the quarter. United Rentals accounts for 2.8% of Harvey Capital Management Inc.’s holdings, making the stock its 6th largest holding. Harvey Capital Management Inc.’s holdings in United Rentals were worth $11,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in United Rentals in the fourth quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of United Rentals in the 3rd quarter worth $31,000. Hanson & Doremus Investment Management purchased a new stake in shares of United Rentals during the 4th quarter worth $33,000. Carmichael Hill & Associates Inc. lifted its stake in shares of United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in United Rentals during the third quarter valued at about $41,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 0.8 %

NYSE:URI opened at $753.65 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company’s fifty day moving average price is $748.32 and its 200-day moving average price is $770.09. United Rentals, Inc. has a 1-year low of $596.48 and a 1-year high of $896.98. The firm has a market capitalization of $49.22 billion, a P/E ratio of 19.45, a PEG ratio of 1.54 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. As a group, equities research analysts anticipate that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.79 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, February 12th. United Rentals’s dividend payout ratio is presently 16.83%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley reduced their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Argus upped their price objective on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Citigroup lowered their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $814.08.

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.