Pacer Advisors Inc. Decreases Holdings in United Rentals, Inc. $URI

Key Points

• Pacer Advisors Inc. reduced its stake in United Rentals by 19.3% in the fourth quarter, selling 1,205 shares and leaving it with 5,029 shares valued at about $4.07 million.
• Several analysts recently raised their price targets on United Rentals, with ratings still skewing positive overall. The stock now carries a Moderate Buy consensus and an average target price of $996.94.
• United Rentals reported quarterly EPS of $9.71, missing estimates, while revenue came in at $3.99 billion versus expectations of $4.20 billion. The company also announced a quarterly dividend of $1.97 per share and has an active $5 billion share buyback authorization.

Pacer Advisors Inc. cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 19.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,029 shares of the construction company's stock after selling 1,205 shares during the quarter. Pacer Advisors Inc.'s holdings in United Rentals were worth $4,070,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Capital International Investors grew its stake in shares of United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock worth $3,247,762,000 after acquiring an additional 631,484 shares during the period. Capital World Investors grew its stake in shares of United Rentals by 6.7% during the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company's stock worth $2,557,158,000 after acquiring an additional 168,685 shares during the period. Franklin Resources Inc. grew its stake in shares of United Rentals by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company's stock worth $1,255,460,000 after acquiring an additional 83,978 shares during the period. Alliancebernstein L.P. grew its stake in shares of United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock worth $1,038,870,000 after acquiring an additional 57,977 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of United Rentals by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 948,386 shares of the construction company's stock worth $905,313,000 after acquiring an additional 26,847 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

URI has been the subject of several research reports. Barclays increased their price target on United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. increased their price target on United Rentals from $850.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Robert W. Baird raised their target price on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Truist Financial set a $1,209.00 target price on United Rentals in a research note on Friday, April 24th. Finally, Royal Bank Of Canada raised their target price on 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 equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, United Rentals has an average rating of "Moderate Buy" and an average target price of $996.94.

Insiders Place Their Bets

In other news, VP Andrew B. Limoges sold 548 shares of United Rentals 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 sale, the vice president owned 1,865 shares in the company, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares of the company's stock, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 26,088 shares of company stock worth $25,628,877. Insiders own 0.47% of the company's stock.

United Rentals Stock Down 2.3%

Shares of NYSE URI opened at $934.09 on Thursday. United Rentals, Inc. has a 52 week low of $681.98 and a 52 week high of $1,021.47. The business has a 50-day simple moving average of $813.08 and a two-hundred day simple moving average of $837.91. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The company has a market cap of $58.52 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.52 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results 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 return on equity of 30.56% and a net margin of 15.32%.The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the business earned $8.86 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts anticipate that United Rentals, Inc. will post 46.99 earnings per share for the current fiscal year.

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 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 is Wednesday, May 13th. United Rentals's dividend payout ratio (DPR) is 20.10%.

United Rentals announced that its board has authorized a share buyback program on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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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