United Rentals, Inc. (NYSE:URI) Shares Acquired by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group Inc. RI increased its holdings in United Rentals by 100.4%, owning 27,542 shares valued at approximately $17.26 million after acquiring an additional 13,797 shares.
• United Rentals recently reported $10.47 earnings per share for the last quarter, missing expectations by $0.07, although its revenue was up 4.5% year-over-year to $3.94 billion.
• The company declared a quarterly dividend of $1.79 per share, which is set to be paid on August 27th, resulting in an annualized dividend yield of 0.8%.

Citizens Financial Group Inc. RI raised its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 100.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,542 shares of the construction company's stock after purchasing an additional 13,797 shares during the period. Citizens Financial Group Inc. RI's holdings in United Rentals were worth $17,261,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in URI. Fourth Dimension Wealth LLC acquired a new position in shares of United Rentals in the 1st quarter valued at $26,000. TruNorth Capital Management LLC increased its position in shares of United Rentals by 1,266.7% in the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after acquiring an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of United Rentals by 69.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after acquiring an additional 20 shares during the period. Grove Bank & Trust acquired a new position in shares of United Rentals in the 1st quarter valued at $36,000. Finally, NBC Securities Inc. acquired a new position in shares of United Rentals in the 1st quarter valued at $40,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on URI. Citigroup reaffirmed a "buy" rating and issued a $810.00 price target (up from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Truist Financial upped their price target on shares of United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a report on Friday, July 25th. Bank of America upped their price target on shares of United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Morgan Stanley upped their price target on shares of United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, UBS Group upped their price target on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $830.71.

United Rentals Price Performance

Shares of URI traded up $4.38 during mid-day trading on Friday, hitting $858.99. 273,017 shares of the company were exchanged, compared to its average volume of 666,507. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $903.60. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. The company has a 50 day moving average of $777.39 and a 200-day moving average of $703.50. The stock has a market cap of $55.27 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.97 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the company earned $10.70 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a $1.79 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. United Rentals's dividend payout ratio is presently 18.52%.

Insider Buying and Selling

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the sale, the vice president owned 1,921 shares in the company, valued at approximately $1,355,957.06. This represents a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.