Erste Asset Management GmbH Has $4.46 Million Stock Position in United Rentals, Inc. $URI

Key Points

• Erste Asset Management GmbH increased its United Rentals stake by 51.8% in the fourth quarter, adding 1,858 shares to bring its total to 5,442 shares valued at about $4.46 million.
• Wall Street remains broadly bullish on United Rentals, with several analysts raising price targets; the stock currently carries a Moderate Buy consensus and an average price target of $1,013.63.
• United Rentals reported Q1 earnings below expectations, with EPS of $9.71 versus the $11.47 estimate and revenue of $3.99 billion versus $4.20 billion expected, even as revenue rose 7.2% year over year.

Erste Asset Management GmbH grew its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 51.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,442 shares of the construction company's stock after buying an additional 1,858 shares during the quarter. Erste Asset Management GmbH's holdings in United Rentals were worth $4,460,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC acquired a new position in shares of United Rentals during the third quarter valued at about $29,000. Aventura Private Wealth LLC acquired a new position in shares of United Rentals during the fourth quarter valued at about $27,000. Core Wealth Advisors LLC acquired a new position in shares of United Rentals during the fourth quarter valued at about $28,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of United Rentals during the third quarter valued at about $35,000. Finally, Board of the Pension Protection Fund acquired a new position in shares of United Rentals during the fourth quarter valued at about $32,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URI. Robert W. Baird lifted their price objective on shares of United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Royal Bank Of Canada lifted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Evercore reiterated an "outperform" rating and set a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Finally, UBS Group raised their price target on shares of United Rentals from $1,025.00 to $1,145.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,013.63.

United Rentals Stock Up 0.9%

URI opened at $1,093.93 on Wednesday. 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 company's 50-day moving average is $899.90 and its 200 day moving average is $856.84. United Rentals, Inc. has a fifty-two week low of $682.08 and a fifty-two week high of $1,106.88. The firm has a market capitalization of $68.53 billion, a P/E ratio of 27.91, a PEG ratio of 1.72 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts' consensus estimates 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 in the previous year, the business earned $8.86 earnings per share. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals's payout ratio is currently 20.10%.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares of the company's stock, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 26,088 shares of company stock worth $25,628,877. Insiders own 0.47% of the company's stock.

United Rentals Company 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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