First Trust Direct Indexing L.P. Purchases 308 Shares of United Rentals, Inc. (NYSE:URI)

First Trust Direct Indexing L.P. increased its holdings in United Rentals, Inc. (NYSE:URI) by 14.2% during the 1st quarter, Holdings Channel reports. The firm owned 2,483 shares of the construction company’s stock after buying an additional 308 shares during the period. First Trust Direct Indexing L.P.’s holdings in United Rentals were worth $1,791,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of 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 buying an additional 1,799,997 shares during the period. Norges Bank purchased a new position in United Rentals in the fourth quarter worth about $977,443,000. International Assets Investment Management LLC lifted its stake in shares of United Rentals by 58,829.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after buying an additional 1,041,281 shares in the last quarter. AMF Tjanstepension AB grew its holdings in shares of United Rentals by 59.9% during the first quarter. AMF Tjanstepension AB now owns 257,246 shares of the construction company’s stock valued at $185,539,000 after buying an additional 96,323 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of United Rentals by 12.7% during the third quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock valued at $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.

United Rentals Stock Up 1.2 %

NYSE:URI opened at $653.95 on Friday. The stock has a fifty day simple moving average of $659.53 and a 200-day simple moving average of $646.94. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The company has a market cap of $43.55 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 2.16 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 posted 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.95 earnings per share. Analysts anticipate that United Rentals, Inc. will post 43.61 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.00%. The ex-dividend date was Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling

In related news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Michael D. Durand sold 559 shares of the 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 completion of the transaction, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on URI shares. Citigroup assumed coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. Stifel Nicolaus boosted their target price 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. JPMorgan Chase & Co. assumed coverage on United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price objective for the company. Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Finally, The Goldman Sachs Group upped their price target on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $637.67.

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.