Congress Asset Management Co. Cuts Holdings in United Rentals, Inc. (NYSE:URI)

Congress Asset Management Co. decreased its position in United Rentals, Inc. (NYSE:URI) by 13.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,498 shares of the construction company’s stock after selling 560 shares during the period. Congress Asset Management Co.’s holdings in United Rentals were worth $2,192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pines Wealth Management LLC grew its position in shares of United Rentals by 18.9% in the first quarter. Pines Wealth Management LLC now owns 452 shares of the construction company’s stock valued at $283,000 after purchasing an additional 72 shares during the period. Eagle Rock Investment Company LLC grew its position in shares of United Rentals by 20.1% in the first quarter. Eagle Rock Investment Company LLC now owns 4,700 shares of the construction company’s stock valued at $2,945,000 after purchasing an additional 787 shares during the period. Procyon Advisors LLC grew its position in shares of United Rentals by 12.3% in the first quarter. Procyon Advisors LLC now owns 857 shares of the construction company’s stock valued at $537,000 after purchasing an additional 94 shares during the period. Magnus Financial Group LLC grew its position in shares of United Rentals by 42.8% in the first quarter. Magnus Financial Group LLC now owns 554 shares of the construction company’s stock valued at $347,000 after purchasing an additional 166 shares during the period. Finally, Intellectus Partners LLC acquired a new stake in shares of United Rentals in the first quarter valued at about $610,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

NYSE:URI opened at $707.02 on Monday. 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 firm has a market capitalization of $45.96 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.43 and a beta of 1.70. The company’s 50-day moving average is $650.15 and its two-hundred day moving average is $695.46. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.15 earnings per share. Analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 annualized dividend and a dividend yield of 1.01%. United Rentals’s dividend payout ratio is currently 18.54%.

Insider Transactions at United Rentals

In other news, VP Andrew B. Limoges sold 708 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the transaction, the vice president now directly owns 1,921 shares in the company, valued at approximately $1,355,957.06. This represents a 26.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael D. Durand sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the completion of the transaction, the executive vice president now owns 8,748 shares in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group upgraded shares of United Rentals from a “sell” rating to a “neutral” rating and lifted their target price for the company from $485.00 to $780.00 in a research report on Friday, May 16th. Truist Financial lifted their target price on shares of United Rentals from $732.00 to $786.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Robert W. Baird lifted their target price on shares of United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Bank of America lowered their price target on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Cfra Research upgraded shares of United Rentals to a “strong-buy” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $753.15.

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.