Harvey Capital Management Inc. Sells 410 Shares of United Rentals, Inc. (NYSE:URI)

Harvey Capital Management Inc. lessened its stake in United Rentals, Inc. (NYSE:URI) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,603 shares of the construction company’s stock after selling 410 shares during the quarter. United Rentals comprises approximately 2.8% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Harvey Capital Management Inc.’s holdings in United Rentals were worth $11,696,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brookstone Capital Management purchased a new position in shares of United Rentals in the third quarter valued at approximately $208,000. Procyon Advisors LLC lifted its holdings in United Rentals by 2.9% in the 3rd quarter. Procyon Advisors LLC now owns 741 shares of the construction company’s stock valued at $600,000 after purchasing an additional 21 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in United Rentals during the 3rd quarter worth $388,000. CX Institutional boosted its stake in United Rentals by 3.2% during the 3rd quarter. CX Institutional now owns 515 shares of the construction company’s stock worth $417,000 after purchasing an additional 16 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of United Rentals by 7.9% during the third quarter. Creative Planning now owns 13,046 shares of the construction company’s stock worth $10,563,000 after buying an additional 959 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Up 0.8 %

Shares of NYSE:URI opened at $753.65 on Wednesday. The company has a market capitalization of $49.22 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.54 and a beta of 1.68. United Rentals, Inc. has a 12-month low of $596.48 and a 12-month high of $896.98. The business has a 50-day moving average price of $748.32 and a 200 day moving average price of $770.09. 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 (NYSE:URI) last released 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 expect that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.79 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is currently 16.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on URI shares. Citigroup lowered their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley decreased their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Barclays upped their price target on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Bank of America upped their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $814.08.

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.