Equitable Trust Co. boosted its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 55.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,436 shares of the construction company's stock after buying an additional 2,285 shares during the quarter. Equitable Trust Co.'s holdings in United Rentals were worth $5,209,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings in United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock worth $3,247,762,000 after buying an additional 631,484 shares in the last quarter. Capital World Investors lifted its holdings in United Rentals by 6.7% during the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company's stock worth $2,557,158,000 after buying an additional 168,685 shares in the last quarter. Franklin Resources Inc. lifted its holdings in United Rentals by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company's stock worth $1,255,460,000 after buying an additional 83,978 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock worth $1,038,870,000 after buying an additional 57,977 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in United Rentals by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 948,386 shares of the construction company's stock worth $905,313,000 after buying an additional 26,847 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at United Rentals
In related news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction 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 sale, the chief executive officer directly owned 99,980 shares in the company, valued at $98,478,300.40. This trade represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president owned 1,865 shares in the company, valued at $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,088 shares of company stock valued at $25,628,877 over the last quarter. 0.47% of the stock is owned by insiders.
United Rentals Price Performance
Shares of URI opened at $933.61 on Wednesday. United Rentals, Inc. has a twelve month low of $645.18 and a twelve month high of $1,021.47. The firm's fifty day simple moving average is $802.64 and its 200-day simple moving average is $839.47. The firm has a market capitalization of $58.49 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.47 and a beta of 1.83. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.
United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS 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 company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the business earned $8.86 earnings per share. United Rentals's revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that United Rentals, Inc. will post 46.99 EPS for the current fiscal year.
United Rentals declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
United Rentals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid 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 dividend payout ratio (DPR) is currently 20.10%.
Wall Street Analysts Forecast Growth
URI has been the topic of a number of research reports. Barclays increased their target price on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a report on Friday, April 24th. Truist Financial set a $1,209.00 price objective on shares of United Rentals in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the company an "outperform" rating in a report on Thursday, April 9th. Royal Bank Of Canada raised their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Finally, Citigroup raised their price objective on shares of United Rentals from $950.00 to $1,130.00 and gave the company a "buy" rating in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $986.35.
View Our Latest Research Report on URI
United Rentals Company Profile
(
Free Report)
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.
Further Reading
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