Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.57 Million in United Rentals, Inc. $URI

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in United Rentals during the fourth quarter, buying 1,935 shares worth about $1.57 million.
• Institutional interest in URI remains strong, with hedge funds and asset managers significantly increasing their stakes and institutions now owning 96.26% of the company.
• United Rentals recently reported earnings and revenue that missed analyst expectations, even as revenue rose 7.2% year over year; the company also announced a quarterly dividend and a $5 billion share buyback program.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,935 shares of the construction company's stock, valued at approximately $1,566,000.

A number of other hedge funds have also made changes to their positions in URI. Capital International Investors grew its position in shares of United Rentals by 22.8% during the third 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 in the last quarter. TD Asset Management Inc grew its position in shares of United Rentals by 66.5% during the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company's stock worth $462,485,000 after buying an additional 193,416 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of United Rentals by 3,459.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock worth $159,184,000 after buying an additional 191,162 shares in the last quarter. Capital World Investors grew its position in shares of United Rentals by 6.7% during the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company's stock worth $2,557,158,000 after buying an additional 168,685 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of United Rentals by 3,094.3% during the third quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company's stock worth $148,233,000 after buying an additional 150,412 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

Analyst Ratings Changes

URI has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on United Rentals from $995.00 to $1,071.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. KeyCorp raised their price objective on United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Barclays raised their price objective on United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a research note on Friday, April 24th. Finally, Citigroup raised their price objective on United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $996.94.

Insider Buying and Selling

In related news, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares of the company's stock, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,088 shares of company stock worth $25,628,877. Company insiders own 0.47% of the company's stock.

United Rentals Price Performance

Shares of NYSE URI opened at $931.17 on Friday. United Rentals, Inc. has a fifty-two week low of $681.98 and a fifty-two week high of $1,021.47. The firm's 50-day simple moving average is $827.82 and its 200 day simple moving average is $840.57. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The stock has a market cap of $58.34 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.49 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the firm posted $8.86 earnings per share. United Rentals's revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that United Rentals, Inc. will post 47.07 EPS for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a $1.97 dividend. The ex-dividend date of this dividend is 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 currently 20.10%.

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

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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