United Rentals, Inc. $URI Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its stake in United Rentals, Inc. (NYSE:URI) by 0.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 121,462 shares of the construction company’s stock after selling 887 shares during the quarter. Royal London Asset Management Ltd.’s holdings in United Rentals were worth $137,603,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of URI. PFG Investments LLC increased its position in shares of United Rentals by 0.9% during the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after purchasing an additional 11 shares in the last quarter. CoreCap Advisors LLC boosted its stake in United Rentals by 16.9% during the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after purchasing an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after buying an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of United Rentals by 3.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock worth $260,000 after buying an additional 12 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its position in United Rentals by 2.0% during the first quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock worth $441,000 after acquiring an additional 12 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

URI has been the subject of several research reports. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a research note on Monday, June 29th. Raymond James Financial restated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Evercore restated an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Bank of America lifted 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. One equities research 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’s stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

Insider Activity

In other news, EVP William E. Grace sold 1,500 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

United Rentals Trading Down 0.7%

Shares of United Rentals stock opened at $1,030.64 on Friday. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The stock has a 50 day moving average of $1,097.31 and a 200 day moving average of $957.16. The firm has a market capitalization of $64.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.34 and a beta of 1.80.

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

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $1.97 per share. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. United Rentals’s dividend payout ratio is 18.92%.

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.