Logan Capital Management Inc. Sells 2,344 Shares of United Rentals, Inc. (NYSE:URI)

Logan Capital Management Inc. trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 35,026 shares of the construction company’s stock after selling 2,344 shares during the quarter. United Rentals accounts for about 1.0% of Logan Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Logan Capital Management Inc.’s holdings in United Rentals were worth $24,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in United Rentals in the fourth quarter worth $695,716,000. Capital World Investors grew its stake in United Rentals by 17.1% in the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after buying an additional 323,636 shares in the last quarter. Capital International Investors lifted its position in shares of United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after acquiring an additional 305,491 shares in the last quarter. Marshall Wace LLP grew its position in shares of United Rentals by 105.6% in the fourth quarter. Marshall Wace LLP now owns 546,165 shares of the construction company’s stock valued at $384,740,000 after purchasing an additional 280,502 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of United Rentals during the 4th quarter valued at $171,733,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on URI shares. Citigroup cut their target price on United Rentals from $720.00 to $650.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Sanford C. Bernstein raised shares of United Rentals from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $705.00 to $666.00 in a research note on Tuesday, March 25th. Cfra Research raised shares of United Rentals to a “strong-buy” rating in a report on Friday, April 25th. Robert W. Baird raised their price target on shares of United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, Morgan Stanley raised shares of United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $725.69.

United Rentals Stock Up 0.4%

Shares of NYSE URI opened at $672.53 on Monday. The company has a market cap of $43.71 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.43 and a beta of 1.70. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm’s fifty day moving average is $616.74 and its 200 day moving average is $712.90. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.15 earnings per share. On average, equities research analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Wednesday, May 14th. United Rentals’s payout ratio is currently 18.54%.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 1,100 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. This represents a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company’s stock.

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.