Wedbush Securities Inc. Reduces Stock Position in United Rentals, Inc. $URI

Wedbush Securities Inc. decreased its stake in shares of United Rentals, Inc. (NYSE:URI) by 25.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,922 shares of the construction company’s stock after selling 670 shares during the quarter. Wedbush Securities Inc.’s holdings in United Rentals were worth $2,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in United Rentals in the 2nd quarter valued at about $29,000. MidFirst Bank acquired a new stake in shares of United Rentals during the 2nd quarter worth approximately $31,000. Core Wealth Advisors LLC purchased a new stake in shares of United Rentals during the 4th quarter valued at approximately $28,000. MV Capital Management Inc. purchased a new stake in shares of United Rentals during the 4th quarter valued at approximately $28,000. Finally, Bell Investment Advisors Inc purchased a new position in United Rentals in the second quarter worth approximately $40,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Up 0.0%

Shares of NYSE URI opened at $1,030.64 on Monday. The stock has a market cap of $64.15 billion, a P/E ratio of 24.75, a PEG ratio of 1.33 and a beta of 1.80. The business’s fifty day simple moving average is $1,097.31 and its 200-day simple moving average is $957.73. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last released its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.47 EPS. As a group, equities analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is 18.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup lifted their target price on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Bank of America raised their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. Finally, BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target on the stock in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.