Thrivent Financial for Lutherans Sells 60,613 Shares of United Rentals, Inc. $URI

Key Points

• Thrivent Financial for Lutherans cut its stake in United Rentals by 40.5% in the fourth quarter, selling 60,613 shares and leaving it with 88,929 shares worth about $71.97 million.
• United Rentals reported weaker-than-expected quarterly results, posting EPS of $9.71 versus the $11.47 estimate and revenue of $3.99 billion versus $4.20 billion expected, even though revenue rose 7.2% year over year.
• The company continues to return capital to shareholders through a new $5 billion buyback authorization and a quarterly dividend of $1.97 per share, while analysts still hold a consensus “Moderate Buy” rating with a target price of $996.94.

Thrivent Financial for Lutherans decreased its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 40.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,929 shares of the construction company's stock after selling 60,613 shares during the period. Thrivent Financial for Lutherans owned 0.14% of United Rentals worth $71,972,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC purchased a new stake in shares of United Rentals during the 3rd quarter valued at approximately $29,000. Aventura Private Wealth LLC purchased a new stake in shares of United Rentals during the 4th quarter valued at approximately $27,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of United Rentals during the 3rd quarter valued at approximately $35,000. Board of the Pension Protection Fund purchased a new stake in shares of United Rentals during the 4th quarter valued at approximately $32,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of United Rentals during the 4th quarter valued at approximately $32,000. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Performance

United Rentals stock opened at $961.22 on Friday. The firm's 50 day simple moving average is $818.01 and its 200 day simple moving average is $839.18. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $60.22 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.83. United Rentals, Inc. has a 1-year low of $681.98 and a 1-year high of $1,021.47.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $4.20 billion. During the same period in the prior year, the firm earned $8.86 EPS. United Rentals's quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals declared that its board has approved a share buyback program on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

United Rentals Dividend Announcement

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

Insider Activity at United Rentals

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president owned 14,774 shares of the company's stock, valued at $14,227,362. The trade was a 14.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,088 shares of company stock worth $25,628,877 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Evercore restated an "outperform" rating and set a $1,101.00 price target on shares of United Rentals in a research note on Monday. Robert W. Baird increased their price objective on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Weiss Ratings cut United Rentals from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. Truist Financial set a $1,209.00 price objective on United Rentals in a report on Friday, April 24th. Finally, Morgan Stanley reissued an "overweight" rating and set a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Thirteen 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $996.94.

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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