JPMorgan Chase & Co. Lowers Stock Holdings in United Rentals, Inc. (NYSE:URI)

JPMorgan Chase & Co. cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 29.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 552,226 shares of the construction company’s stock after selling 235,651 shares during the period. JPMorgan Chase & Co. owned approximately 0.85% of United Rentals worth $389,010,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in URI. Proficio Capital Partners LLC acquired a new stake in shares of United Rentals during the fourth quarter worth $171,733,000. Raymond James Financial Inc. purchased a new position in United Rentals during the 4th quarter worth $164,493,000. TD Asset Management Inc. lifted its stake in shares of United Rentals by 207.8% in the 4th quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock worth $165,097,000 after acquiring an additional 158,214 shares during the period. National Pension Service boosted its holdings in shares of United Rentals by 79.8% in the fourth quarter. National Pension Service now owns 167,813 shares of the construction company’s stock valued at $118,214,000 after acquiring an additional 74,479 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of United Rentals by 6.1% during the third 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 period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Trading Down 2.9 %

Shares of URI opened at $627.10 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals, Inc. has a 1-year low of $585.27 and a 1-year high of $896.98. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The firm has a 50 day simple moving average of $686.97 and a 200-day simple moving average of $754.94.

United Rentals (NYSE:URI) last released its quarterly 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 analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.14%. United Rentals’s payout ratio is presently 18.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a report on Tuesday, January 14th. Evercore ISI decreased their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley cut their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and cut their price target for the company from $705.00 to $666.00 in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $804.15.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on 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 owns 6,880 shares of the company’s stock, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by insiders.

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.