Harbour Investments Inc. Sells 23 Shares of United Rentals, Inc. (NYSE:URI)

Harbour Investments Inc. lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,537 shares of the construction company’s stock after selling 23 shares during the quarter. Harbour Investments Inc.’s holdings in United Rentals were worth $1,083,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in United Rentals in the 4th quarter valued at $25,000. ORG Wealth Partners LLC bought a new stake in United Rentals in the 4th quarter valued at $26,000. Hanson & Doremus Investment Management bought a new stake in United Rentals in the 4th quarter valued at $33,000. Kestra Investment Management LLC bought a new stake in United Rentals in the 4th quarter valued at $34,000. Finally, OFI Invest Asset Management bought a new stake in United Rentals in the 4th quarter valued at $36,000. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on URI shares. Citigroup reduced their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Truist Financial restated a “buy” rating and set a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Morgan Stanley lowered their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI lowered their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Stock Down 2.0 %

URI stock opened at $608.51 on Wednesday. The stock has a market cap of $39.74 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.43 and a beta of 1.76. The stock’s fifty day simple moving average is $698.93 and its two-hundred day simple moving average is $758.97. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 1-year low of $585.27 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s dividend payout ratio is presently 18.48%.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

About United Rentals

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.