iA Global Asset Management Inc. Boosts Stock Holdings in United Rentals, Inc. $URI

Key Points

• iA Global Asset Management increased its stake in United Rentals by 36.4% in the fourth quarter, owning 27,491 shares worth about $22.25 million after adding 7,335 shares.
• United Rentals reported mixed quarterly results: EPS of $9.71 and revenue of $3.99 billion both missed analyst expectations, though revenue still rose 7.2% year over year.
• The company approved a $5 billion share repurchase plan and declared a quarterly dividend of $1.97 per share, while analysts remain generally bullish with a consensus rating of Moderate Buy.

iA Global Asset Management Inc. raised its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 36.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,491 shares of the construction company's stock after purchasing an additional 7,335 shares during the period. iA Global Asset Management Inc.'s holdings in United Rentals were worth $22,249,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Aventura Private Wealth LLC purchased a new position in shares of United Rentals in the 4th quarter worth approximately $27,000. Abich Financial Wealth Management LLC purchased a new position in shares of United Rentals in the 3rd quarter worth approximately $29,000. Board of the Pension Protection Fund purchased a new position in shares of United Rentals in the 4th quarter worth approximately $32,000. Laurel Wealth Advisors LLC purchased a new position in shares of United Rentals in the 4th quarter worth approximately $32,000. Finally, Fortitude Family Office LLC grew its position in shares of United Rentals by 121.1% in the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock worth $34,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Stock Down 1.2%

URI stock opened at $961.22 on Friday. The firm has a 50 day moving average of $818.01 and a 200 day moving average of $839.18. The stock has a market capitalization of $60.22 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.53 and a beta of 1.83. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 52 week low of $681.98 and a 52 week high of $1,021.47.

United Rentals (NYSE:URI - Get Free Report) last released 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 company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $8.86 earnings per share. Sell-side analysts forecast that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

United Rentals Dividend Announcement

The business also recently announced 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 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 20.10%.

Insider Activity at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares of the company's stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,088 shares of company stock valued at $25,628,877 over the last 90 days. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on URI. Truist Financial set a $1,209.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Robert W. Baird lifted their price objective on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. KeyCorp lifted their price objective on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,030.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Finally, Citigroup lifted their price objective on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and a consensus target price of $996.94.

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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