Wellington Management Group LLP Trims Stock Position in United Rentals, Inc. (NYSE:URI)

Wellington Management Group LLP decreased its position in United Rentals, Inc. (NYSE:URI) by 84.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 834 shares of the construction company’s stock after selling 4,449 shares during the period. Wellington Management Group LLP’s holdings in United Rentals were worth $588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in United Rentals in the fourth quarter worth approximately $695,716,000. Proficio Capital Partners LLC acquired a new position in shares of United Rentals in the 4th quarter valued at $171,733,000. Raymond James Financial Inc. purchased a new position in shares of United Rentals during the 4th quarter worth $164,493,000. TD Asset Management Inc. increased its position in shares of United Rentals by 207.8% during the 4th quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock worth $165,097,000 after purchasing an additional 158,214 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings 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 buying an additional 105,287 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

URI stock opened at $596.66 on Tuesday. The business’s 50-day moving average is $641.47 and its two-hundred day moving average is $738.65. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The firm has a market capitalization of $38.98 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.43 and a beta of 1.72. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98.

United Rentals (NYSE:URI) last issued 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 net margin of 16.78% and a return on equity of 34.21%. Analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company 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 a boost from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s payout ratio is 18.48%.

Insider Buying and Selling

In related news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on URI. UBS Group lowered shares of United Rentals from a “buy” rating to a “sell” rating and lowered their target price for the stock from $910.00 to $485.00 in a research note on Monday, April 7th. Sanford C. Bernstein raised shares of United Rentals from an “underperform” rating to a “market perform” rating and lowered their price objective for the stock from $705.00 to $666.00 in a research report on Tuesday, March 25th. Bank of America cut their target price on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. 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. Finally, Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and an average price target of $734.29.

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.