City National Bank of Florida MSD Makes New Investment in United Rentals, Inc. (NYSE:URI)

City National Bank of Florida MSD purchased a new stake in United Rentals, Inc. (NYSE:URI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 411 shares of the construction company’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently made changes to their positions in URI. JPMorgan Chase & Co. raised its stake in shares of United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares during the period. Merit Financial Group LLC bought a new position in shares of United Rentals during the fourth quarter worth about $906,000. Arkadios Wealth Advisors raised its position in United Rentals by 99.0% in the 4th quarter. Arkadios Wealth Advisors now owns 607 shares of the construction company’s stock valued at $428,000 after buying an additional 302 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in United Rentals in the 4th quarter valued at approximately $298,000. Finally, Alpha Cubed Investments LLC lifted its stake in United Rentals by 6.2% in the 4th quarter. Alpha Cubed Investments LLC now owns 547 shares of the construction company’s stock valued at $385,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on URI. UBS Group raised shares of United Rentals from a “sell” rating to a “neutral” rating and raised their price target for the stock from $485.00 to $780.00 in a research note on Friday, May 16th. Truist Financial lifted their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Bank of America reduced their price objective on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Cfra Research upgraded United Rentals to a “strong-buy” rating in a report on Friday, April 25th. Finally, Morgan Stanley upgraded United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 target price on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $757.38.

United Rentals Trading Down 2.7%

Shares of NYSE:URI opened at $696.14 on Thursday. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The company has a market capitalization of $45.25 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. The company has a 50-day simple moving average of $632.92 and a 200 day simple moving average of $708.98.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company earned $9.15 EPS. United Rentals’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, May 14th. United Rentals’s dividend payout ratio (DPR) is presently 18.54%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president now directly owns 1,921 shares in the company, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,908 shares of company stock valued at $1,890,567 in the last quarter. 0.53% of the stock is currently owned by 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.