Chevy Chase Trust Holdings LLC Has $26.83 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Chevy Chase Trust Holdings LLC lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 37,205 shares of the construction company’s stock after selling 657 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of United Rentals worth $26,829,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of URI. Capital Research Global Investors lifted its holdings in United Rentals by 39.1% during the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after purchasing an additional 1,799,997 shares during the last quarter. Norges Bank bought a new position in United Rentals in the 4th quarter worth approximately $977,443,000. International Assets Investment Management LLC grew its stake in United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after buying an additional 1,041,281 shares in the last quarter. AMF Tjanstepension AB raised its holdings in United Rentals by 59.9% during the 1st quarter. AMF Tjanstepension AB now owns 257,246 shares of the construction company’s stock valued at $185,539,000 after acquiring an additional 96,323 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of United Rentals by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock worth $714,578,000 after acquiring an additional 56,948 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 2.8 %

URI stock traded up $17.82 during trading on Wednesday, reaching $645.23. The company had a trading volume of 332,905 shares, compared to its average volume of 568,343. The business has a 50 day moving average of $656.08 and a 200 day moving average of $649.42. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $42.97 billion, a P/E ratio of 17.00, a PEG ratio of 2.11 and a beta of 1.71. United Rentals, Inc. has a 52 week low of $387.01 and a 52 week high of $732.37.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $7.95 earnings per share. As a group, sell-side analysts forecast that United Rentals, Inc. will post 43.61 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given 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 dividend yield of 1.01%. United Rentals’s dividend payout ratio is currently 17.66%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Truist Financial reduced their price objective on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Raymond James assumed coverage on shares of United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Finally, Citigroup initiated coverage on shares of United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, United Rentals has an average rating of “Hold” and an average price target of $637.67.

Insider Buying and Selling

In other United Rentals news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael D. Durand sold 559 shares of the stock in a transaction on Friday, May 3rd. The shares were 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 in the company, valued at $5,431,557.12. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

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.