Hsbc Holdings PLC Purchases 60,849 Shares of United Rentals, Inc. $URI

Key Points

• HSBC Holdings PLC increased its stake in United Rentals by 56% in the fourth quarter, buying 60,849 additional shares and bringing its total holding to 169,551 shares valued at about $137.5 million.
• Several insiders sold shares recently, including CEO Matthew John Flannery and EVP Craig Adam Pintoff, with total insider sales over the last 90 days reaching 26,088 shares worth about $25.6 million.
• Wall Street remains mostly bullish on URI, with 13 Buy ratings and a consensus “Moderate Buy” price target of about $1,045.81, even as the stock recently traded near $1,077.68 after reporting mixed quarterly results.

Hsbc Holdings PLC boosted its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 56.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,551 shares of the construction company's stock after acquiring an additional 60,849 shares during the period. Hsbc Holdings PLC owned 0.27% of United Rentals worth $137,549,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of URI. Aventura Private Wealth LLC acquired a new position in shares of United Rentals during the 4th quarter worth about $27,000. Core Wealth Advisors LLC acquired a new stake in United Rentals in the 4th quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new stake in United Rentals in the 4th quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new position in United Rentals in the 3rd quarter worth approximately $35,000. Finally, Board of the Pension Protection Fund bought a new position in United Rentals in the 4th quarter worth approximately $32,000. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 99,980 shares of the company's stock, valued at $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction dated 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 owned 14,774 shares of the company's stock, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on URI. Evercore reissued an "outperform" rating and issued a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Truist Financial set a $1,209.00 target price on shares of United Rentals in a research report on Friday, April 24th. Raymond James Financial reiterated an "outperform" rating and set a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. KeyCorp increased their price target on shares of United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Finally, Barclays increased their price target on shares of United Rentals from $600.00 to $715.00 and gave the company an "underweight" rating in a report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and an average target price of $1,045.81.

United Rentals Stock Up 0.1%

Shares of URI stock opened at $1,077.68 on Friday. United Rentals, Inc. has a one year low of $693.78 and a one year high of $1,106.88. 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 stock has a fifty day moving average price of $953.75 and a 200 day moving average price of $871.26. The stock has a market cap of $67.52 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.81.

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 (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.98 billion during 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 company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $8.86 EPS. Analysts predict that United Rentals, Inc. will post 47.26 earnings per share for the current year.

United Rentals Announces Dividend

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