Edgemoor Investment Advisors Inc. Sells 2,089 Shares of United Rentals, Inc. (NYSE:URI)

Edgemoor Investment Advisors Inc. lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,941 shares of the construction company’s stock after selling 2,089 shares during the quarter. United Rentals makes up approximately 4.6% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 4th biggest holding. Edgemoor Investment Advisors Inc. owned approximately 0.11% of United Rentals worth $52,088,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of URI. Rialto Wealth Management LLC acquired a new stake in United Rentals during the fourth quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of United Rentals in the 4th quarter valued at $26,000. Hanson & Doremus Investment Management purchased a new position in shares of United Rentals in the 4th quarter valued at $33,000. Kestra Investment Management LLC purchased a new stake in United Rentals during the 4th quarter worth $34,000. Finally, OFI Invest Asset Management purchased a new stake in United Rentals during the 4th quarter worth $36,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Trading Up 4.9 %

URI opened at $623.35 on Monday. The firm’s fifty day moving average is $701.71 and its two-hundred day moving average is $760.67. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a market cap of $40.71 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98.

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

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. 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. This represents a $7.16 annualized dividend and a dividend yield of 1.15%. United Rentals’s dividend payout ratio is currently 18.48%.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on URI. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Citigroup decreased their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI decreased their price target on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Argus lifted their price target on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $829.00.

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.