Congress Wealth Management LLC DE Sells 108 Shares of United Rentals, Inc. (NYSE:URI)

Congress Wealth Management LLC DE lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,725 shares of the construction company’s stock after selling 108 shares during the period. Congress Wealth Management LLC DE’s holdings in United Rentals were worth $4,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of URI. FMR LLC grew its holdings in shares of United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares during the last quarter. Geode Capital Management LLC boosted its position in United Rentals by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after buying an additional 9,256 shares during the period. Franklin Resources Inc. grew its holdings in United Rentals by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after acquiring an additional 57,002 shares during the last quarter. JPMorgan Chase & Co. increased its position in United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after acquiring an additional 105,287 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after acquiring an additional 52,037 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on URI shares. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research note on Tuesday, January 14th. Sanford C. Bernstein raised United Rentals from an “underperform” rating to a “market perform” rating and decreased their price target for the company from $705.00 to $666.00 in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Evercore ISI lowered 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. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $804.15.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 1,100 shares of the company’s 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 sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Up 1.0 %

NYSE:URI opened at $653.71 on Wednesday. The firm has a fifty day simple moving average of $694.07 and a two-hundred day simple moving average of $756.62. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.43 and a beta of 1.76. 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 posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is 18.48%.

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.