Fisher Asset Management LLC Buys 6,020 Shares of United Rentals, Inc. $URI

Key Points

• Fisher Asset Management boosted its stake in United Rentals by 9.9% in the fourth quarter, buying 6,020 additional shares and bringing its total holding to 66,734 shares worth about $54 million.
• Wall Street remains broadly bullish on URI, with 12 Buy ratings, 3 Holds, and 1 Sell; the consensus target price is $1,006.13, though individual targets vary widely.
• Recent operating results were mixed: United Rentals reported quarterly EPS of $9.71 and revenue of $3.99 billion, both below estimates, even as revenue rose 7.2% year over year and the company announced a quarterly dividend plus a $5 billion share repurchase program.

Fisher Asset Management LLC raised its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 66,734 shares of the construction company's stock after acquiring an additional 6,020 shares during the period. Fisher Asset Management LLC owned approximately 0.11% of United Rentals worth $54,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of URI. Capital International Investors lifted its stake in United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock valued at $3,247,762,000 after acquiring an additional 631,484 shares during the period. TD Asset Management Inc lifted its stake in shares of United Rentals by 66.5% in the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company's stock worth $462,485,000 after purchasing an additional 193,416 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock worth $159,184,000 after purchasing an additional 191,162 shares during the period. Capital World Investors lifted its stake in shares of United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company's stock worth $2,557,158,000 after purchasing an additional 168,685 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of United Rentals by 3,094.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company's stock worth $148,233,000 after purchasing an additional 150,412 shares during the period. Institutional investors own 96.26% of the company's stock.

Wall Street Analysts Forecast Growth

URI has been the topic of several recent research reports. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Royal Bank Of Canada increased their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Citigroup increased their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Barclays increased their target price on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a report on Friday, April 24th. Finally, Robert W. Baird increased their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Twelve research 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,006.13.

Insider Buying and Selling

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction on Monday, April 27th. The stock was 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 in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the sale, the chief executive officer owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,088 shares of company stock valued at $25,628,877 in the last three months. Corporate insiders own 0.47% of the company's stock.

United Rentals Trading Up 2.9%

Shares of URI opened at $965.81 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 firm has a market cap of $60.51 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.83. United Rentals, Inc. has a 1 year low of $681.98 and a 1 year high of $1,021.47. The company has a 50 day simple moving average of $839.69 and a two-hundred day simple moving average of $842.62.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 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%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.86 earnings per share. On average, equities analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.