Fisher Asset Management LLC Sells 1,969 Shares of United Rentals, Inc. (NYSE:URI)

Fisher Asset Management LLC reduced its stake in United Rentals, Inc. (NYSE:URI) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,459 shares of the construction company’s stock after selling 1,969 shares during the period. Fisher Asset Management LLC owned approximately 0.06% of United Rentals worth $24,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. LGT Group Foundation grew its position in United Rentals by 14.6% in the fourth quarter. LGT Group Foundation now owns 8,044 shares of the construction company’s stock valued at $4,655,000 after acquiring an additional 1,023 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of United Rentals by 12.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 2,175 shares of the construction company’s stock worth $1,247,000 after purchasing an additional 247 shares during the last quarter. Summit Financial LLC increased its position in shares of United Rentals by 8.5% during the 4th quarter. Summit Financial LLC now owns 8,015 shares of the construction company’s stock worth $4,596,000 after purchasing an additional 629 shares in the last quarter. RB Capital Management LLC lifted its holdings in United Rentals by 2.2% during the 4th quarter. RB Capital Management LLC now owns 2,320 shares of the construction company’s stock valued at $1,330,000 after purchasing an additional 49 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in United Rentals by 46.2% during the 4th quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock valued at $56,982,000 after purchasing an additional 31,398 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of United Rentals in a report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective for the company. Robert W. Baird lifted their price objective on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Wells Fargo & Company increased their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. The Goldman Sachs Group raised their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus upped their price target on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, United Rentals has an average rating of “Hold” and an average target price of $600.79.

Insider Activity at United Rentals

In other United Rentals 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 transaction, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,713 shares of company stock worth $6,747,384. 0.53% of the stock is owned by insiders.

United Rentals Stock Up 0.3 %

Shares of NYSE URI opened at $666.66 on Friday. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37. The firm’s 50-day moving average is $683.37 and its 200-day moving average is $586.57. 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 firm has a market capitalization of $44.39 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.17 and a beta of 1.82.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $7.95 earnings per share. Equities analysts expect that United Rentals, Inc. will post 43.61 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

United Rentals declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

United Rentals Company 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.