Clearbridge Investments LLC Trims Holdings in United Rentals, Inc. $URI

Clearbridge Investments LLC trimmed its position in United Rentals, Inc. (NYSE:URI) by 12.9% in the 4th quarter, HoldingsChannel reports. The firm owned 93,025 shares of the construction company’s stock after selling 13,820 shares during the quarter. Clearbridge Investments LLC’s holdings in United Rentals were worth $75,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Capital International Investors raised its stake in shares of United Rentals by 22.8% in the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares during the last quarter. Capital World Investors raised its stake in shares of United Rentals by 1.1% in the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of United Rentals by 6.8% in the third quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after purchasing an additional 83,978 shares during the last quarter. Norges Bank purchased a new position in shares of United Rentals in the fourth quarter worth about $978,017,000. Finally, Alliancebernstein L.P. raised its position in United Rentals by 5.6% during the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock valued at $1,038,870,000 after acquiring an additional 57,977 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 1.7%

Shares of URI opened at $1,085.65 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12 month low of $682.08 and a 12 month high of $1,093.97. The stock’s 50 day moving average is $892.70 and its two-hundred day moving average is $854.72. The firm has a market cap of $68.02 billion, a P/E ratio of 27.70, a PEG ratio of 1.70 and a beta of 1.81.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the business posted $8.86 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is currently 20.10%.

Analyst Upgrades and Downgrades

URI has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. Truist Financial set a $1,209.00 price target on United Rentals in a research report on Friday, April 24th. Evercore reiterated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Weiss Ratings upgraded United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Barclays lifted their price target on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research report on Friday, April 24th. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $1,013.63.

Insider Transactions at United Rentals

In other news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,088 shares of company stock valued at $25,628,877. Insiders own 0.47% of the company’s stock.

United Rentals Company 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.