Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,798 shares of the construction company's stock after buying an additional 5,023 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of United Rentals worth $113,067,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. Abich Financial Wealth Management LLC bought a new position in United Rentals in the 3rd quarter valued at $29,000. Aventura Private Wealth LLC bought a new stake in shares of United Rentals during the fourth quarter worth $27,000. Cedar Mountain Advisors LLC bought a new stake in shares of United Rentals during the third quarter worth $32,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of United Rentals in the third quarter valued at $35,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of United Rentals in the fourth quarter valued at $32,000. Institutional investors own 96.26% of the company's stock.
Insider Activity
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 transaction of $2,374,758.00. Following the sale, the executive vice president owned 14,774 shares of the company's stock, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction dated 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 transaction, the chief executive officer owned 99,980 shares in the company, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,088 shares of company stock worth $25,628,877 over the last quarter. Corporate insiders own 0.47% of the company's stock.
United Rentals Stock Performance
Shares of URI stock opened at $964.75 on Thursday. The stock has a market cap of $60.44 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.83. The stock has a 50-day moving average of $804.30 and a 200-day moving average of $839.18. 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, Inc. has a one year low of $647.05 and a one year high of $1,021.47.
United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data 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). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the business earned $8.86 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that United Rentals, Inc. will post 46.99 earnings per share for the current year.
United Rentals announced that its board has approved a share buyback 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 reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
United Rentals Announces Dividend
The company also recently declared 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 of this dividend is Wednesday, May 13th. United Rentals's dividend payout ratio (DPR) is currently 20.10%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on URI shares. Morgan Stanley reiterated an "overweight" rating and set a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. Citigroup increased their price objective 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. Wells Fargo & Company boosted their target price on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. KeyCorp upped 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 report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price target on shares of United Rentals in a research note on Friday, April 24th. Thirteen investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $986.35.
Read Our Latest Report on URI
United Rentals Company 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.
See Also
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