Cercano Management LLC Purchases 7,248 Shares of United Rentals, Inc. $URI

Key Points

• Cercano Management LLC dramatically increased its stake in United Rentals, buying 7,248 additional shares in the fourth quarter and lifting its holdings to 7,458 shares worth about $6.0 million.
• United Rentals reported Q1 earnings of $9.71 per share, missing analyst expectations of $11.47, while revenue came in at $3.99 billion versus the expected $4.20 billion. Despite the miss, revenue still rose 7.2% year over year.
• Analysts remain generally positive on the stock: the consensus rating is Moderate Buy with an average price target of $1,006.13, even as several insiders, including the CEO, sold shares recently.

Cercano Management LLC raised its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 3,451.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,458 shares of the construction company's stock after acquiring an additional 7,248 shares during the period. Cercano Management LLC's holdings in United Rentals were worth $6,036,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital International Investors lifted its position in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock worth $3,247,762,000 after buying an additional 631,484 shares during the last quarter. Capital World Investors grew its position in United Rentals by 6.7% during the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company's stock valued at $2,557,158,000 after acquiring an additional 168,685 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of United Rentals by 6.8% during the third quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company's stock worth $1,255,460,000 after acquiring an additional 83,978 shares in the last quarter. Norges Bank purchased a new position in shares of United Rentals during the fourth quarter worth approximately $978,017,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of United Rentals by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock worth $1,038,870,000 after acquiring an additional 57,977 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

United Rentals Trading Up 0.2%

NYSE:URI opened at $998.03 on Tuesday. The firm has a market capitalization of $62.53 billion, a P/E ratio of 25.46, a PEG ratio of 1.58 and a beta of 1.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a one year low of $681.98 and a one year high of $1,021.47. The company's 50-day simple moving average is $860.45 and its 200 day simple moving average is $846.62.

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

United Rentals Dividend Announcement

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

Analyst Ratings Changes

URI has been the subject of several analyst reports. Robert W. Baird increased their target price on United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,030.00 price target on shares of United Rentals in a research note on Friday, April 24th. Weiss Ratings upgraded United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Barclays increased their price objective on United Rentals from $600.00 to $715.00 and gave the company an "underweight" rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an "overweight" 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 assigned a Sell rating to the company. According to MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and an average price target of $1,006.13.

Insider Activity

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value 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 $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares in the company, valued at $98,478,300.40. This trade represents a 18.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,088 shares of company stock worth $25,628,877 over the last ninety days. Company insiders own 0.47% of the company's stock.

About United Rentals

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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