Swiss National Bank Sells 10,500 Shares of United Rentals, Inc. $URI

Key Points

• The Swiss National Bank trimmed its United Rentals stake by 5.3% in Q3, selling 10,500 shares and ending the period with 187,300 shares (about 0.29%) valued at roughly $178.8 million.
• United Rentals' board approved a $5.0 billion share buyback (up to 8.7% of shares) and raised the quarterly dividend to $1.97 ($7.88 annualized, ~1.0% yield), signaling stronger shareholder returns.
• URI missed quarterly estimates with EPS of $11.09 vs. $11.86 and revenue of $4.21B vs. $4.24B, but Wall Street still holds a Moderate Buy consensus with an average target of $925.59.

Swiss National Bank lowered its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 5.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,300 shares of the construction company's stock after selling 10,500 shares during the quarter. Swiss National Bank owned about 0.29% of United Rentals worth $178,808,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Optas LLC lifted its position in shares of United Rentals by 0.9% during the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company's stock valued at $1,121,000 after acquiring an additional 10 shares during the period. CreativeOne Wealth LLC increased its position in shares of United Rentals by 0.5% in the second quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company's stock worth $1,720,000 after purchasing an additional 11 shares during the period. OFI Invest Asset Management increased its position in shares of United Rentals by 6.7% in the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company's stock worth $167,000 after purchasing an additional 11 shares during the period. Great Valley Advisor Group Inc. raised its stake in United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company's stock valued at $292,000 after purchasing an additional 11 shares in the last quarter. Finally, Opal Wealth Advisors LLC raised its stake in United Rentals by 2.7% in the third quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company's stock valued at $430,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares of the company's stock, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the transaction, the executive vice president owned 6,872 shares of the company's stock, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by insiders.

United Rentals Stock Performance

NYSE URI opened at $820.50 on Tuesday. The company has a market capitalization of $51.69 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.31 and a beta of 1.66. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The stock has a fifty day simple moving average of $872.83 and a 200 day simple moving average of $885.68. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing the consensus estimate of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm posted $11.59 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals announced that its board has approved a share buyback 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 repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from United Rentals's previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. United Rentals's dividend payout ratio is 20.37%.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of analyst reports. UBS Group upgraded shares of United Rentals from a "neutral" rating to a "buy" rating and set a $1,025.00 price objective on the stock in a research note on Sunday, January 4th. Weiss Ratings restated a "hold (c+)" rating on shares of United Rentals in a research report on Wednesday, January 21st. Citigroup cut their price target on shares of United Rentals from $1,090.00 to $950.00 and set a "buy" rating for the company in a report on Monday, February 2nd. KeyCorp set a $950.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Finally, Robert W. Baird set a $970.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of "Moderate Buy" and an average target price of $925.59.

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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