New York Life Investment Management LLC Trims Holdings in United Rentals, Inc. (NYSE:URI)

New York Life Investment Management LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,757 shares of the construction company’s stock after selling 106 shares during the quarter. New York Life Investment Management LLC’s holdings in United Rentals were worth $6,873,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mayflower Financial Advisors LLC grew its stake in United Rentals by 4.0% in the third quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock valued at $274,000 after purchasing an additional 13 shares during the last quarter. First County Bank CT grew its stake in shares of United Rentals by 3.2% during the third quarter. First County Bank CT now owns 422 shares of the construction company’s stock worth $342,000 after acquiring an additional 13 shares during the last quarter. Allen Capital Group LLC grew its stake in shares of United Rentals by 4.2% during the third quarter. Allen Capital Group LLC now owns 324 shares of the construction company’s stock worth $262,000 after acquiring an additional 13 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of United Rentals by 3.2% during the third quarter. Concurrent Investment Advisors LLC now owns 453 shares of the construction company’s stock worth $367,000 after acquiring an additional 14 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its stake in shares of United Rentals by 1.8% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company’s stock worth $573,000 after acquiring an additional 14 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Price Performance

Shares of NYSE URI opened at $642.49 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a fifty-two week low of $596.48 and a fifty-two week high of $896.98. The firm has a market capitalization of $41.96 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. The stock’s 50-day simple moving average is $721.43 and its 200-day simple moving average is $767.74.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share 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 forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on URI. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research note on Tuesday, January 14th. Morgan Stanley dropped their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Evercore ISI dropped their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Argus upped their target price on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and an average price target of $829.00.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by company insiders.

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.