Putnam Investments LLC Sells 10,610 Shares of United Rentals, Inc. (NYSE:URI)

Putnam Investments LLC cut its position in United Rentals, Inc. (NYSE:URIFree Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,379,417 shares of the construction company’s stock after selling 10,610 shares during the quarter. United Rentals makes up approximately 1.0% of Putnam Investments LLC’s investment portfolio, making the stock its 22nd largest holding. Putnam Investments LLC owned about 2.05% of United Rentals worth $790,985,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new position in shares of United Rentals during the fourth quarter valued at approximately $2,351,000. Verdence Capital Advisors LLC acquired a new stake in United Rentals during the fourth quarter worth $257,000. Pinnacle Associates Ltd. raised its holdings in United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after buying an additional 2,289 shares during the period. Victory Capital Management Inc. increased its holdings in United Rentals by 46.2% in the 4th quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock valued at $56,982,000 after purchasing an additional 31,398 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of United Rentals in the 4th quarter valued at $779,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

United Rentals Price Performance

Shares of URI traded down $14.25 during trading hours on Tuesday, reaching $630.85. The company had a trading volume of 163,135 shares, compared to its average volume of 555,445. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12-month low of $382.24 and a 12-month high of $732.37. The firm has a 50 day simple moving average of $672.21 and a 200-day simple moving average of $631.30. The company has a market capitalization of $42.01 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.09 and a beta of 1.75.

United Rentals (NYSE:URIGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $7.95 EPS. Research analysts expect that United Rentals, Inc. will post 43.61 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. United Rentals’s payout ratio is 17.66%.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. began coverage on United Rentals in a research report on Friday. They issued an “overweight” rating and a $780.00 target price for the company. Truist Financial lifted their price target on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Stifel Nicolaus raised their price objective on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $612.73.

Check Out Our Latest Analysis on URI

United Rentals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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