M&T Bank Corp Raises Stock Holdings in United Rentals, Inc. $URI

Key Points

• M&T Bank Corp increased its stake in United Rentals by 27.8% in Q4 to 5,176 shares, valued at about $4.19 million, with institutional investors owning roughly 96.26% of the stock.
• United Rentals missed quarterly estimates (EPS $9.71 vs. $11.47 expected; revenue $3.99B vs. $4.20B) and insiders sold 26,088 shares (~$25.6M) in the past 90 days, even as the board authorized a $5.00 billion share repurchase plan and declared a $1.97 quarterly dividend.

M&T Bank Corp increased its position in United Rentals, Inc. (NYSE:URI - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,176 shares of the construction company's stock after purchasing an additional 1,125 shares during the period. M&T Bank Corp's holdings in United Rentals were worth $4,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new stake in shares of United Rentals in the fourth quarter worth $27,000. Abich Financial Wealth Management LLC purchased a new stake in shares of United Rentals in the third quarter worth $29,000. Cedar Mountain Advisors LLC purchased a new stake in shares of United Rentals in the third quarter worth $32,000. Board of the Pension Protection Fund purchased a new stake in shares of United Rentals in the fourth quarter worth $32,000. Finally, Fortitude Family Office LLC grew its stake in shares of United Rentals by 121.1% in the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock worth $34,000 after acquiring an additional 23 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the company'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 transaction, the executive vice president directly owned 14,774 shares of the company's stock, valued at $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company's stock.

United Rentals Trading Up 3.3%

Shares of NYSE:URI opened at $964.75 on Thursday. The company has a market cap of $60.44 billion, a P/E ratio of 24.61, a PEG ratio of 1.49 and a beta of 1.83. 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 1 year low of $647.05 and a 1 year high of $1,021.47. The stock's fifty day moving average price is $804.30 and its 200-day moving average price is $839.18.

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 analysts' consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion for 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 revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $8.86 earnings per share. Sell-side analysts expect that United Rentals, Inc. will post 46.99 earnings per share for the current year.

United Rentals declared that its board has authorized a share repurchase plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued 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 is presently 20.10%.

Wall Street Analyst Weigh In

URI has been the topic of a number of recent research reports. KeyCorp increased their target price on United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Barclays increased their target price on United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a research note on Friday, April 24th. Citigroup increased their target price on United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Wells Fargo & Company increased their target price on United Rentals from $995.00 to $1,071.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $1,030.00 target price on shares of United Rentals in a research note on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $986.35.

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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