Picton Mahoney Asset Management Sells 7,504 Shares of United Rentals, Inc. (NYSE:URI)

Picton Mahoney Asset Management lessened its stake in United Rentals, Inc. (NYSE:URI) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,411 shares of the construction company’s stock after selling 7,504 shares during the period. Picton Mahoney Asset Management’s holdings in United Rentals were worth $13,674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its holdings in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after acquiring an additional 85,325 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of United Rentals by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after purchasing an additional 9,256 shares during the last quarter. Franklin Resources Inc. increased its position in shares of United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after acquiring an additional 57,002 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after acquiring an additional 105,287 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 4.9 %

Shares of NYSE:URI opened at $623.35 on Friday. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98. The company has a market cap of $40.71 billion, a PE ratio of 16.09, a P/E/G ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The stock’s 50-day moving average is $701.71 and its 200 day moving average is $760.27.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

Analyst Upgrades and Downgrades

URI has been the subject of a number of analyst reports. Morgan Stanley cut their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Citigroup dropped their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Argus raised their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI lowered their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $829.00.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals 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 sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by company 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.