Abacus Planning Group Inc. Sells 25 Shares of United Rentals, Inc. (NYSE:URI)

Abacus Planning Group Inc. lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 375 shares of the construction company’s stock after selling 25 shares during the quarter. Abacus Planning Group Inc.’s holdings in United Rentals were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in URI. Mattson Financial Services LLC bought a new position in shares of United Rentals during the 2nd quarter worth approximately $1,754,000. Centaurus Financial Inc. increased its position in shares of United Rentals by 14.3% during the second quarter. Centaurus Financial Inc. now owns 889 shares of the construction company’s stock worth $575,000 after purchasing an additional 111 shares in the last quarter. American Trust purchased a new stake in shares of United Rentals during the 2nd quarter valued at $255,000. Sanctuary Advisors LLC purchased a new stake in shares of United Rentals during the 2nd quarter valued at $4,943,000. Finally, Brown Financial Advisors acquired a new stake in shares of United Rentals in the 2nd quarter worth $1,080,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

URI opened at $789.17 on Friday. The firm has a fifty day moving average price of $734.55 and a 200 day moving average price of $694.51. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $826.24. The stock has a market cap of $52.55 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.89 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company posted $9.88 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Wednesday, August 14th. United Rentals’s payout ratio is 17.66%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. The Goldman Sachs Group increased their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Citigroup started coverage on shares of United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target on the stock. Raymond James started coverage on shares of United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective on the stock. Finally, Evercore ISI raised their target price on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $694.46.

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.