Intact Investment Management Inc. Takes Position in United Rentals, Inc. $URI

Key Points

• Intact Investment Management bought a new stake of 1,900 United Rentals shares in Q4, valued at about $1.54 million, while institutional investors own about 96.26% of the stock.
• Company insiders have been net sellers: CEO Matthew Flannery sold 22,768 shares (~$22.4M) and insiders sold 26,088 shares (~$25.63M) over the last 90 days, leaving insiders with 0.47% ownership.
• United Rentals missed quarterly estimates (EPS $9.71 vs. $11.47 expected; revenue $3.99B vs. $4.20B) but the board approved a $5.0B share buyback (up to 8.7% of shares) and declared a quarterly dividend of $1.97; analysts have raised targets and the consensus rating is "Moderate Buy" (avg. PT $986.35).

Intact Investment Management Inc. bought a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,900 shares of the construction company's stock, valued at approximately $1,538,000.

Several other institutional investors have also made changes to their positions in URI. Montag A & Associates Inc. lifted its holdings in United Rentals by 10.4% during the 4th quarter. Montag A & Associates Inc. now owns 20,295 shares of the construction company's stock valued at $16,425,000 after purchasing an additional 1,919 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in United Rentals by 4.1% during the 4th quarter. CENTRAL TRUST Co now owns 537 shares of the construction company's stock valued at $435,000 after purchasing an additional 21 shares during the last quarter. Oak Harbor Wealth Partners LLC lifted its holdings in United Rentals by 7.0% during the 4th quarter. Oak Harbor Wealth Partners LLC now owns 691 shares of the construction company's stock valued at $559,000 after purchasing an additional 45 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in United Rentals by 27.4% during the 4th quarter. Pittenger & Anderson Inc. now owns 1,102 shares of the construction company's stock valued at $892,000 after purchasing an additional 237 shares during the last quarter. Finally, Pettee Investors Inc. lifted its holdings in United Rentals by 13.0% during the 4th quarter. Pettee Investors Inc. now owns 6,958 shares of the construction company's stock valued at $5,631,000 after purchasing an additional 800 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares of the company's stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the company's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction 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. Over the last ninety days, insiders have sold 26,088 shares of company stock worth $25,628,877. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

URI has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. KeyCorp boosted their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of United Rentals in a research note on Monday, April 20th. Truist Financial set a $1,209.00 target price on shares of United Rentals in a research note on Friday, April 24th. Finally, Royal Bank Of Canada boosted 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 research note 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $986.35.

United Rentals Stock Down 2.6%

Shares of NYSE URI opened at $924.38 on Tuesday. The stock has a market cap of $57.91 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.51 and a beta of 1.83. The firm has a 50 day moving average price of $802.13 and a 200 day moving average price of $840.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. United Rentals, Inc. has a 52-week low of $645.18 and a 52-week high of $1,021.47.

United Rentals (NYSE:URI - Get Free Report) last released 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 company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $8.86 EPS. Analysts expect that United Rentals, Inc. will post 46.99 EPS for the current year.

United Rentals declared that its board has approved a share repurchase program on Wednesday, January 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors 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 yield of 0.9%. United Rentals's dividend payout ratio is presently 20.10%.

United Rentals 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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