Fifth Third Bancorp Boosts Stake in United Rentals, Inc. $URI

Key Points

• Fifth Third Bancorp sharply increased its stake in United Rentals by 374.7% in Q1, bringing its holdings to 18,360 shares valued at about $13.4 million.
• Several insiders sold shares recently, including CEO Matthew John Flannery and EVP Craig Adam Pintoff, with insider sales totaling 26,088 shares worth about $25.6 million over the last 90 days.
• Analysts remain broadly positive on URI, with 14 Buy ratings and an average price target of $1,131.56, even though the stock was down 1.9% and the company recently missed quarterly EPS and revenue estimates.

Fifth Third Bancorp lifted its position in United Rentals, Inc. (NYSE:URI - Free Report) by 374.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,360 shares of the construction company's stock after acquiring an additional 14,492 shares during the period. Fifth Third Bancorp's holdings in United Rentals were worth $13,376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in shares of United Rentals during the 4th quarter valued at $27,000. Core Wealth Advisors LLC purchased a new stake in shares of United Rentals in the 4th quarter worth about $28,000. MV Capital Management Inc. bought a new position in shares of United Rentals in the 4th quarter worth about $28,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of United Rentals in the 3rd quarter worth about $35,000. Finally, Board of the Pension Protection Fund purchased a new position in United Rentals during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Insiders Place Their Bets

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the company's stock in a transaction 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 transaction, 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 through the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. KeyCorp boosted their price objective on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Evercore reaffirmed an "outperform" rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Bank of America lifted their target price on shares of United Rentals from $1,020.00 to $1,195.00 and gave the company a "buy" rating in a report on Thursday, June 25th. JPMorgan Chase & Co. boosted their price target on United Rentals from $1,050.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Weiss Ratings downgraded United Rentals from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,131.56.

United Rentals Trading Down 1.9%

Shares of NYSE URI opened at $1,064.77 on Wednesday. The firm's 50 day moving average price is $1,034.86 and its 200-day moving average price is $906.18. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The company has a market cap of $66.71 billion, a PE ratio of 27.16, a P/E/G ratio of 1.74 and a beta of 1.79.

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). The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. United Rentals's revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $8.86 EPS. On average, equities research analysts expect that United Rentals, Inc. will post 46.7 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

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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