Wedbush Securities Inc. Sells 17 Shares of United Rentals, Inc. (NYSE:URI)

Wedbush Securities Inc. lowered its position in United Rentals, Inc. (NYSE:URI) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,167 shares of the construction company’s stock after selling 17 shares during the quarter. Wedbush Securities Inc.’s holdings in United Rentals were worth $755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Essex Financial Services Inc. grew its stake in United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after purchasing an additional 136 shares in the last quarter. Nomura Holdings Inc. bought a new position in United Rentals in the fourth quarter worth approximately $780,000. Forsta AP Fonden grew its stake in United Rentals by 2.8% in the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock worth $10,528,000 after purchasing an additional 400 shares in the last quarter. Tidal Investments LLC grew its stake in United Rentals by 241.2% in the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after purchasing an additional 3,435 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in United Rentals in the fourth quarter worth approximately $779,000. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on URI shares. Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective on the stock. Truist Financial increased their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 target price on the stock. The Goldman Sachs Group increased their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. initiated coverage on United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $675.15.

United Rentals Stock Performance

Shares of URI opened at $706.36 on Thursday. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $789.80. The stock has a fifty day moving average price of $707.03 and a 200-day moving average price of $683.82. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm has a market cap of $46.72 billion, a PE ratio of 19.13, a P/E/G ratio of 1.57 and a beta of 1.68.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.88 EPS. Equities research analysts predict that United Rentals, Inc. will post 44.5 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.92%. United Rentals’s dividend payout ratio (DPR) is 17.66%.

Insider Buying and Selling

In related news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

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.