Bank of New York Mellon Corp Trims Holdings in United Rentals, Inc. (NYSE:URI)

Bank of New York Mellon Corp decreased its stake in shares of United Rentals, Inc. (NYSE:URI – Get Rating) by 13.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 499,186 shares of the construction company’s stock after selling 75,987 shares during the quarter. Bank of New York Mellon Corp’s holdings in United Rentals were worth $134,842,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. American Trust lifted its position in United Rentals by 48.4% during the third quarter. American Trust now owns 1,350 shares of the construction company’s stock worth $365,000 after buying an additional 440 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in United Rentals by 14.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 102,608 shares of the construction company’s stock worth $27,715,000 after buying an additional 13,280 shares in the last quarter. Toroso Investments LLC lifted its position in United Rentals by 5.6% during the third quarter. Toroso Investments LLC now owns 4,018 shares of the construction company’s stock worth $1,085,000 after buying an additional 214 shares in the last quarter. CVA Family Office LLC lifted its position in United Rentals by 7.9% during the third quarter. CVA Family Office LLC now owns 823 shares of the construction company’s stock worth $222,000 after buying an additional 60 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in United Rentals by 10.1% in the third quarter. IHT Wealth Management LLC now owns 2,023 shares of the construction company’s stock valued at $546,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the topic of a number of research analyst reports. Barclays lifted their target price on United Rentals from $300.00 to $350.00 and gave the company an “underweight” rating in a research report on Friday, January 27th. Wells Fargo & Company lifted their target price on United Rentals from $435.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Robert W. Baird lifted their target price on United Rentals from $375.00 to $425.00 in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft lifted their target price on United Rentals from $341.00 to $399.00 and gave the company a “hold” rating in a research report on Friday, January 27th. Finally, Credit Suisse Group started coverage on United Rentals in a report on Wednesday, February 8th. They issued an “outperform” rating and a $544.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $440.46.

United Rentals Trading Down 6.8 %

URI opened at $370.09 on Friday. United Rentals, Inc. has a 12 month low of $230.54 and a 12 month high of $481.99. The stock has a market capitalization of $25.65 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.58 and a beta of 1.85. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.11 and a quick ratio of 1.02. The business has a fifty day moving average price of $431.97 and a 200 day moving average price of $359.57.

United Rentals (NYSE:URI – Get Rating) last released its earnings results on Wednesday, January 25th. The construction company reported $9.74 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.38). United Rentals had a return on equity of 36.12% and a net margin of 18.08%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the firm earned $7.39 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. Sell-side analysts expect that United Rentals, Inc. will post 41.69 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were given a dividend of $1.48 per share. The ex-dividend date was Tuesday, February 7th. This represents a $5.92 annualized dividend and a dividend yield of 1.60%. United Rentals’s dividend payout ratio is currently 4.97%.

Insider Transactions at United Rentals

In other news, VP Andrew B. Limoges sold 519 shares of the company’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $432.00, for a total transaction of $224,208.00. Following the completion of the transaction, the vice president now directly owns 2,235 shares of the company’s stock, valued at approximately $965,520. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Craig Adam Pintoff sold 4,761 shares of the company’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $434.56, for a total transaction of $2,068,940.16. Following the completion of the transaction, the executive vice president now directly owns 15,942 shares of the company’s stock, valued at approximately $6,927,755.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Andrew B. Limoges sold 519 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $432.00, for a total value of $224,208.00. Following the completion of the sale, the vice president now directly owns 2,235 shares of the company’s stock, valued at $965,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,672 shares of company stock valued at $13,871,422. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Company Profile

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United Rentals, Inc engages in the equipment rental business. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities. The Specialty segment focuses on the rental of specialty construction products such as trench safety equipment, power and HVAC equipment, fluid solutions equipment, mobile storage equipment and modular office space.