Harvest Fund Management Co. Ltd Sells 385 Shares of United Rentals, Inc. (NYSE:URI)

Harvest Fund Management Co. Ltd lowered its position in United Rentals, Inc. (NYSE:URI) by 47.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 424 shares of the construction company’s stock after selling 385 shares during the period. Harvest Fund Management Co. Ltd’s holdings in United Rentals were worth $298,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of URI. Quest Partners LLC raised its stake in shares of United Rentals by 4.5% in the third quarter. Quest Partners LLC now owns 890 shares of the construction company’s stock valued at $721,000 after acquiring an additional 38 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of United Rentals by 20.1% in the third quarter. Prospera Financial Services Inc now owns 933 shares of the construction company’s stock valued at $756,000 after acquiring an additional 156 shares during the last quarter. Avior Wealth Management LLC raised its position in United Rentals by 24.0% in the 3rd quarter. Avior Wealth Management LLC now owns 217 shares of the construction company’s stock worth $176,000 after purchasing an additional 42 shares during the last quarter. First Horizon Advisors Inc. raised its position in United Rentals by 3.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 565 shares of the construction company’s stock worth $458,000 after purchasing an additional 19 shares during the last quarter. Finally, LPL Financial LLC raised its position in United Rentals by 8.4% in the 3rd quarter. LPL Financial LLC now owns 124,946 shares of the construction company’s stock worth $101,173,000 after purchasing an additional 9,684 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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. 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. Evercore ISI dropped their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Bank of America lowered their target price on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a report on Friday. Finally, Truist Financial reaffirmed a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $815.67.

United Rentals Price Performance

Shares of URI stock opened at $628.63 on Friday. United Rentals, Inc. has a 12-month low of $585.27 and a 12-month high of $896.98. The firm has a market capitalization of $41.05 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average of $696.39 and a 200-day moving average of $756.39.

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

United Rentals Increases Dividend

The business 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. The ex-dividend date was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a yield of 1.14%. United Rentals’s dividend payout ratio is presently 18.48%.

Insider Buying and Selling

In related news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction 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 directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

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.