Waverton Investment Management Ltd Sells 6,234 Shares of United Rentals, Inc. (NYSE:URI)

Waverton Investment Management Ltd reduced its stake in United Rentals, Inc. (NYSE:URI) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,091 shares of the construction company’s stock after selling 6,234 shares during the quarter. United Rentals comprises approximately 2.5% of Waverton Investment Management Ltd’s portfolio, making the stock its 18th biggest holding. Waverton Investment Management Ltd owned approximately 0.31% of United Rentals worth $134,638,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in United Rentals by 2.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,819 shares of the construction company’s stock worth $1,043,000 after buying an additional 49 shares in the last quarter. Precision Wealth Strategies LLC bought a new position in shares of United Rentals in the fourth quarter worth about $227,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of United Rentals by 1,780.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 376 shares of the construction company’s stock valued at $215,000 after buying an additional 356 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in United Rentals during the 4th quarter valued at approximately $604,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of United Rentals by 10.6% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 615 shares of the construction company’s stock worth $353,000 after buying an additional 59 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. Truist Financial upped their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup initiated coverage on shares of United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Raymond James initiated coverage on United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $675.15.

United Rentals Stock Performance

NYSE URI opened at $697.39 on Friday. The stock has a market capitalization of $46.44 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.71 and a beta of 1.68. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $703.03 and its two-hundred day moving average is $682.32. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.88 EPS. Research analysts expect that United Rentals, Inc. will post 44.5 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

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.