Pictet Asset Management Holding SA Has $47.11 Million Holdings in United Rentals, Inc. $URI

Key Points

• Pictet Asset Management increased its stake in United Rentals by 45.7%, now owning 58,198 shares worth about $47.11 million, representing roughly 0.09% of the company amid overall institutional ownership of 96.26%.
• Company insiders have trimmed holdings recently, selling a total of 30,076 shares worth about $28.78 million over the last three months (including CEO Matthew Flannery's 22,768-share sale), 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 $5.0 billion buyback (up to 8.7% of shares) and declared a $1.97 quarterly dividend, while analysts have raised targets leaving a consensus "Moderate Buy."

Pictet Asset Management Holding SA grew its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 45.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,198 shares of the construction company's stock after buying an additional 18,255 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.09% of United Rentals worth $47,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of URI. Aventura Private Wealth LLC bought a new position in United Rentals in the 4th quarter valued at $27,000. Salomon & Ludwin LLC grew its holdings in shares of United Rentals by 650.0% during the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company's stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of United Rentals during the third quarter worth $29,000. Cedar Mountain Advisors LLC acquired a new stake in shares of United Rentals in the third quarter valued at $32,000. 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 and hedge funds own 96.26% of the company's stock.

Insiders Place Their Bets

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the transaction, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the business's 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 of the company's stock, valued at $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,076 shares of company stock worth $28,783,569 over the last three months. Insiders own 0.47% of the company's stock.

United Rentals Price Performance

Shares of URI stock opened at $952.46 on Thursday. The firm has a market cap of $59.67 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 1.53 and a beta of 1.68. United Rentals, Inc. has a 12 month low of $611.93 and a 12 month high of $1,021.47. 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 stock has a 50-day moving average price of $800.67 and a 200 day moving average price of $841.29.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.99 billion during 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 firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $8.86 EPS. Research analysts expect that United Rentals, Inc. will post 46.87 EPS for the current year.

United Rentals announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in 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 usually a sign that the company's board believes its shares are undervalued.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be paid a $1.97 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of research analyst reports. 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. Royal Bank Of Canada upped 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 report on Friday, April 24th. Robert W. Baird increased their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. UBS Group raised shares of United Rentals from a "neutral" rating to a "buy" rating and set a $1,025.00 price target for the company in a report on Sunday, January 4th. Finally, Wells Fargo & Company boosted their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an "overweight" rating in a research report on Friday, January 23rd. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and a consensus price target of $986.35.

About United Rentals

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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