United Rentals, Inc. $URI Shares Sold by Accent Capital Management LLC

Key Points

• Accent Capital Management sharply reduced its United Rentals stake by 84.4% in the fourth quarter, selling 2,212 shares and ending with 408 shares valued at about $330,000.
• United Rentals reported mixed quarterly results, with EPS of $9.71 and revenue of $3.99 billion both below analyst expectations, though revenue still rose 7.2% year over year.
• The company announced a quarterly dividend of $1.97 per share and has a $5 billion share buyback authorization in place, while analysts largely remain bullish with a consensus Moderate Buy rating and a $996.94 price target.

Accent Capital Management LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 84.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 408 shares of the construction company's stock after selling 2,212 shares during the period. Accent Capital Management LLC's holdings in United Rentals were worth $330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of URI. Gleason Group Inc. lifted its stake in shares of United Rentals by 4.3% in the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company's stock worth $218,000 after acquiring an additional 11 shares during the period. Bridgewater Advisors Inc. lifted its stake in shares of United Rentals by 1.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company's stock worth $783,000 after acquiring an additional 11 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company's stock worth $292,000 after acquiring an additional 11 shares during the period. Howard Capital Management Inc. lifted its stake in shares of United Rentals by 3.1% in the 3rd quarter. Howard Capital Management Inc. now owns 395 shares of the construction company's stock worth $377,000 after acquiring an additional 12 shares during the period. Finally, Fearless Solutions LLC dba Best Invest lifted its stake in shares of United Rentals by 2.2% in the 4th quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company's stock worth $448,000 after acquiring an additional 12 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Up 0.8%

URI stock opened at $939.20 on Friday. United Rentals, Inc. has a 52-week low of $681.98 and a 52-week high of $1,021.47. The company's 50 day simple moving average is $830.99 and its 200-day simple moving average is $841.26. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The firm has a market capitalization of $58.84 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.49 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.86 EPS. As a group, equities research analysts anticipate that United Rentals, Inc. will post 47.07 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, May 13th. United Rentals's dividend payout ratio is currently 20.10%.

United Rentals announced that its board has approved a stock buyback program on Wednesday, January 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the construction company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on URI. Evercore reaffirmed an "outperform" rating and issued a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. Royal Bank Of Canada boosted their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Citigroup boosted their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Robert W. Baird boosted their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 target price on shares of United Rentals in a report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $996.94.

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 sale, the executive vice president directly owned 14,774 shares of the company's stock, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the business's 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 completion of the sale, the senior vice president directly owned 5,738 shares of the company's stock, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,088 shares of company stock worth $25,628,877 in the last 90 days. 0.47% of the stock is owned by corporate insiders.

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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