Pictet Asset Management Holding SA Sells 6,373 Shares of United Rentals, Inc. $URI

Pictet Asset Management Holding SA reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 11.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 51,825 shares of the construction company’s stock after selling 6,373 shares during the period. Pictet Asset Management Holding SA’s holdings in United Rentals were worth $37,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in URI. Beacon Investment Advisory Services Inc. boosted its stake in United Rentals by 1,358.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company’s stock valued at $6,658,000 after buying an additional 7,663 shares in the last quarter. Nordea Investment Management AB raised its stake in United Rentals by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 154,688 shares of the construction company’s stock worth $126,362,000 after acquiring an additional 28,604 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of United Rentals by 18.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock valued at $9,514,000 after acquiring an additional 1,846 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of United Rentals by 1.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 367,814 shares of the construction company’s stock valued at $351,128,000 after acquiring an additional 5,115 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of United Rentals by 37.8% in the 3rd quarter. Victory Capital Management Inc. now owns 113,434 shares of the construction company’s stock valued at $108,291,000 after purchasing an additional 31,125 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 1.0%

Shares of NYSE URI opened at $1,133.64 on Wednesday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,143.69. The company has a 50-day moving average of $1,000.42 and a two-hundred day moving average of $886.92. The company has a market cap of $71.02 billion, a PE ratio of 28.92, a P/E/G ratio of 1.79 and a beta of 1.81. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the business earned $8.86 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts expect that United Rentals, Inc. will post 46.76 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is presently 20.10%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on URI. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. KeyCorp upped their price objective on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. UBS Group raised their price objective on shares of United Rentals from $1,025.00 to $1,145.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,096.75.

Insider Transactions at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by insiders.

About United Rentals

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.