United Rentals, Inc. $URI Position Reduced by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management cut its United Rentals stake by 47.1% in the fourth quarter, selling 11,526 shares and leaving it with 12,954 shares worth about $10.5 million.
• United Rentals reported Q1 earnings of $9.71 per share, missing analyst estimates of $11.47, while revenue came in at $3.99 billion versus expectations of $4.20 billion. Revenue still rose 7.2% year over year.
• The company’s board approved a $5 billion share repurchase program, and it also declared a quarterly dividend of $1.97 per share, payable May 27, for an annualized yield of 0.8%.

Swiss Life Asset Management Ltd decreased its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 47.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,954 shares of the construction company's stock after selling 11,526 shares during the period. Swiss Life Asset Management Ltd's holdings in United Rentals were worth $10,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in URI. Woodline Partners LP raised its holdings in United Rentals by 40.0% during the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock worth $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Sei Investments Co. raised its holdings in United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock worth $20,444,000 after purchasing an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in United Rentals by 43.6% during the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after purchasing an additional 17,030 shares in the last quarter. HUB Investment Partners LLC raised its holdings in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after purchasing an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock worth $1,246,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

United Rentals Trading Up 1.9%

NYSE URI opened at $956.14 on Wednesday. United Rentals, Inc. has a twelve month low of $681.98 and a twelve month high of $1,021.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The stock has a market cap of $59.90 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.49 and a beta of 1.83. The firm's 50 day moving average price is $810.83 and its two-hundred day moving average price is $837.77.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share 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 firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same quarter in the previous year, the firm posted $8.86 earnings per share. The company's revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts anticipate that United Rentals, Inc. will post 46.99 EPS for the current year.

United Rentals declared that its board has approved a stock repurchase plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, May 13th. United Rentals's payout ratio is presently 20.10%.

Insider Activity

In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

URI has been the topic of several research reports. Royal Bank Of Canada upped their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Wells Fargo & Company upped their price target on United Rentals from $995.00 to $1,071.00 and gave the company an "overweight" rating in a report on Friday, January 23rd. Truist Financial set a $1,209.00 price target on United Rentals in a report on Friday, April 24th. KeyCorp upped their price target on United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,030.00 price target on shares of United Rentals in a report on Friday, April 24th. Thirteen research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $996.94.

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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