Kennedy Investment Group lessened its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,382 shares of the construction company's stock after selling 1,244 shares during the quarter. United Rentals accounts for approximately 1.3% of Kennedy Investment Group's investment portfolio, making the stock its 14th biggest holding. Kennedy Investment Group's holdings in United Rentals were worth $3,546,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Abich Financial Wealth Management LLC bought a new stake in shares of United Rentals in the third quarter worth $29,000. Aventura Private Wealth LLC acquired a new position in United Rentals during the fourth quarter worth $27,000. KERR FINANCIAL PLANNING Corp acquired a new position in United Rentals during the third quarter worth $35,000. Board of the Pension Protection Fund acquired a new position in United Rentals during the fourth quarter worth $32,000. Finally, Laurel Wealth Advisors LLC acquired a new position in United Rentals during the fourth quarter worth $32,000. Institutional investors own 96.26% of the company's stock.
United Rentals Price Performance
NYSE:URI opened at $929.38 on Wednesday. United Rentals, Inc. has a one year low of $681.98 and a one year high of $1,021.47. The company has a market cap of $58.23 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.50 and a beta of 1.83. The firm's fifty day moving average price is $822.41 and its two-hundred day moving average price is $839.63. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74.
United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the firm earned $8.86 earnings per share. United Rentals's revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current year.
United Rentals declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the construction company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.
United Rentals Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, May 13th. United Rentals's dividend payout ratio is presently 20.10%.
Insider Activity
In other United Rentals news, SVP Joli L. Gross sold 306 shares of the stock in a transaction dated 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 in the company, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew B. Limoges sold 548 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 1,865 shares of the company's stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 26,088 shares of company stock valued at $25,628,877. Corporate insiders own 0.47% of the company's stock.
Wall Street Analyst Weigh In
URI has been the topic of a number of recent analyst reports. Truist Financial set a $1,209.00 target price on shares of United Rentals in a report 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 report on Friday, April 24th. 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 report on Friday, April 24th. Robert W. Baird boosted 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. Finally, Weiss Ratings upgraded shares of United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and a consensus target price of $996.94.
Check Out Our Latest Report on URI
United Rentals Profile
(
Free Report)
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.
Further Reading
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