FORVIS Wealth Advisors LLC Decreases Stock Holdings in United Rentals, Inc. (NYSE:URI)

FORVIS Wealth Advisors LLC decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,591 shares of the construction company’s stock after selling 155 shares during the period. FORVIS Wealth Advisors LLC’s holdings in United Rentals were worth $3,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in URI. First Financial Corp IN purchased a new position in shares of United Rentals during the 1st quarter valued at approximately $25,000. AdvisorNet Financial Inc lifted its holdings in United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Rise Advisors LLC purchased a new position in United Rentals in the 1st quarter valued at $28,000. Riverview Trust Co purchased a new position in United Rentals in the 1st quarter valued at $31,000. Finally, Private Wealth Management Group LLC purchased a new position in United Rentals in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

URI has been the topic of a number of research reports. Oppenheimer restated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Citigroup started coverage on United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target on the stock. JPMorgan Chase & Co. started coverage on United Rentals in a report on Friday, June 7th. They set an “overweight” rating and a $780.00 price target on the stock. The Goldman Sachs Group lifted their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Raymond James started coverage on United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $637.67.

United Rentals Trading Down 1.4 %

NYSE URI traded down $8.95 during trading on Friday, hitting $645.00. The stock had a trading volume of 32,748 shares, compared to its average volume of 567,510. The company has a market capitalization of $42.95 billion, a PE ratio of 17.71, a PEG ratio of 2.16 and a beta of 1.71. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average price of $659.53 and a 200 day moving average price of $646.94. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $732.37.

United Rentals (NYSE:URI) last released its 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. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the company posted $7.95 EPS. United Rentals’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that United Rentals, Inc. will post 43.61 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, May 7th. United Rentals’s dividend payout ratio is presently 17.66%.

Insider Transactions at United Rentals

In related news, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other United Rentals news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The sale 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 business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

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.