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

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new fourth-quarter stake in United Rentals, buying 1,935 shares worth about $1.57 million.
• Several analysts raised price targets on the stock, and the consensus view remains “Moderate Buy” with an average target price of $996.94.
• United Rentals reported Q1 earnings below estimates but still posted 7.2% year-over-year revenue growth; the company also announced a quarterly dividend and continues a $5 billion share repurchase program.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in United Rentals, Inc. (NYSE:URI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,935 shares of the construction company's stock, valued at approximately $1,566,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Financial Services Inc boosted its stake in shares of United Rentals by 2.5% in the fourth quarter. Prospera Financial Services Inc now owns 4,154 shares of the construction company's stock valued at $3,362,000 after buying an additional 101 shares during the period. Jefferies Financial Group Inc. boosted its stake in shares of United Rentals by 3,010.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 28,056 shares of the construction company's stock valued at $22,706,000 after buying an additional 27,154 shares during the period. MQS Management LLC bought a new stake in shares of United Rentals in the fourth quarter valued at approximately $340,000. EverSource Wealth Advisors LLC boosted its stake in shares of United Rentals by 14.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 591 shares of the construction company's stock valued at $479,000 after buying an additional 74 shares during the period. Finally, Americana Partners LLC boosted its stake in shares of United Rentals by 4.2% in the fourth quarter. Americana Partners LLC now owns 594 shares of the construction company's stock valued at $481,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on URI shares. Royal Bank Of Canada boosted their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. KeyCorp boosted their price target on United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on United Rentals from $850.00 to $1,050.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Barclays boosted their price target 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, Truist Financial set a $1,209.00 price target on United Rentals in a research note on Friday, April 24th. Thirteen 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 a consensus rating of "Moderate Buy" and an average target price of $996.94.

United Rentals Stock Up 0.8%

NYSE URI opened at $939.20 on Friday. The business has a fifty day moving average price of $830.99 and a two-hundred day moving average price of $841.26. 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 fifty-two week low of $681.98 and a fifty-two week high of $1,021.47. The stock has a market capitalization of $58.84 billion, a PE ratio of 23.96, a PEG ratio of 1.49 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last released its 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 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 quarter in the previous year, the company earned $8.86 earnings per share. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.97 per share. The ex-dividend date is Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals's dividend payout ratio is 20.10%.

United Rentals declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at United Rentals

In other news, VP Andrew B. Limoges sold 548 shares of the company's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares of the company's stock, valued at $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,088 shares of company stock valued at $25,628,877 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

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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