Allstate Corp Has $3.89 Million Stock Position in United Rentals, Inc. $URI

Key Points

• Allstate Corp more than doubled its stake in United Rentals in the fourth quarter, ending with 4,809 shares valued at about $3.89 million.
• Insider selling was notable, with CEO Matthew Flannery and EVP Craig Pintoff both trimming holdings; insiders sold a combined 26,088 shares worth about $25.6 million last quarter.
• United Rentals reported Q1 earnings of $9.71 per share, missing estimates, though revenue still rose 7.2% year over year; the company also has a $5 billion share repurchase authorization and recently paid a quarterly dividend of $1.97 per share.

Allstate Corp increased its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 100.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,809 shares of the construction company's stock after buying an additional 2,412 shares during the period. Allstate Corp's holdings in United Rentals were worth $3,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in URI. Aventura Private Wealth LLC bought a new stake in United Rentals during the 4th quarter worth about $27,000. Abich Financial Wealth Management LLC bought a new stake in United Rentals during the 3rd quarter worth about $29,000. Board of the Pension Protection Fund bought a new stake in United Rentals during the 4th quarter worth about $32,000. Laurel Wealth Advisors LLC bought a new stake in United Rentals during the 4th quarter worth about $32,000. Finally, Fortitude Family Office LLC raised its holdings in United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock worth $34,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

Insiders Place Their Bets

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares of the company's stock, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew John Flannery sold 22,768 shares of the company's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 in the last quarter. 0.47% of the stock is owned by company insiders.

United Rentals Stock Performance

Shares of URI stock opened at $989.11 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The stock has a market cap of $61.97 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.53 and a beta of 1.83. The stock has a 50-day moving average of $844.61 and a 200-day moving average of $843.63. United Rentals, Inc. has a one year low of $681.98 and a one year high of $1,021.47.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the company posted $8.86 earnings per share. United Rentals's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals declared that its board has authorized a share repurchase program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals's dividend payout ratio is presently 20.10%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on URI shares. Royal Bank Of Canada boosted their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Barclays boosted their price objective on United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a report on Friday, April 24th. Truist Financial set a $1,209.00 price objective on United Rentals in a report on Friday, April 24th. Citigroup boosted their price objective on United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, Robert W. Baird upped their price target on United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,006.13.

United Rentals Profile

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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