Congress Wealth Management LLC DE Sells 350 Shares of United Rentals, Inc. (NYSE:URI)

Congress Wealth Management LLC DE trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,329 shares of the construction company’s stock after selling 350 shares during the period. Congress Wealth Management LLC DE’s holdings in United Rentals were worth $3,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. First Financial Corp IN acquired a new position in United Rentals in the 1st quarter valued at $25,000. Rise Advisors LLC acquired a new position in United Rentals in the first quarter valued at about $28,000. Riverview Trust Co acquired a new position in United Rentals in the first quarter valued at about $31,000. AdvisorNet Financial Inc lifted its position in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Finally, PFS Partners LLC acquired a new stake in United Rentals during the first quarter worth about $36,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Price Performance

URI stock opened at $640.84 on Tuesday. The company has a market capitalization of $42.67 billion, a P/E ratio of 17.36, a PEG ratio of 2.12 and a beta of 1.71. The company has a fifty day moving average price of $660.61 and a 200-day moving average price of $646.32. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. United Rentals, Inc. has a 52-week low of $387.01 and a 52-week high of $732.37.

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

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, May 7th. United Rentals’s payout ratio is presently 17.66%.

Insider Buying and Selling at United Rentals

In other news, COO Michael D. Durand sold 559 shares of the business’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 value of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction 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 in the company, valued at $5,431,557.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the subject of several analyst reports. Citigroup started coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. Truist Financial decreased their price target on United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research note on Tuesday. Raymond James assumed coverage on United Rentals in a research note on Friday. They issued an “outperform” rating and a $750.00 price objective on the stock. The Goldman Sachs Group boosted their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus raised their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $637.67.

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.