United Rentals, Inc. $URI Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. trimmed its United Rentals stake by 4.5% in the fourth quarter, selling 7,420 shares and leaving it with 156,947 shares valued at about $127 million.
• United Rentals reported weaker-than-expected quarterly results, posting $9.71 EPS versus estimates of $11.47 and revenue of $3.99 billion versus $4.20 billion expected, though revenue still rose 7.2% year over year.
• The company also authorized a $5 billion share buyback and declared a quarterly dividend of $1.97 per share, while analysts remain generally positive with a consensus Moderate Buy rating.

Bessemer Group Inc. reduced its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,947 shares of the construction company's stock after selling 7,420 shares during the period. Bessemer Group Inc. owned 0.25% of United Rentals worth $127,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of URI. Capital International Investors increased its position in United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock worth $3,247,762,000 after purchasing an additional 631,484 shares during the last quarter. TD Asset Management Inc increased its position in shares of United Rentals by 66.5% during the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company's stock valued at $462,485,000 after acquiring an additional 193,416 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of United Rentals by 3,459.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock valued at $159,184,000 after acquiring an additional 191,162 shares during the last quarter. Capital World Investors increased its position in shares of United Rentals by 6.7% during the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company's stock valued at $2,557,158,000 after acquiring an additional 168,685 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of United Rentals by 3,094.3% during the third quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company's stock valued at $148,233,000 after acquiring an additional 150,412 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Down 1.2%

Shares of United Rentals stock opened at $961.22 on Friday. The company has a market cap of $60.22 billion, a P/E ratio of 24.52, a PEG ratio of 1.54 and a beta of 1.83. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. United Rentals, Inc. has a one year low of $681.98 and a one year high of $1,021.47. The firm has a fifty day moving average of $818.01 and a two-hundred day moving average of $839.18.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 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 analysts' expectations of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.86 EPS. On average, analysts forecast that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals declared that its board has authorized a stock buyback plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

United Rentals Announces Dividend

The business also recently announced 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 dividend payout ratio is presently 20.10%.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the company's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

URI has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. Truist Financial set a $1,209.00 price target on shares of United Rentals in a research report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an "outperform" rating in a research report on Thursday, April 9th. Robert W. Baird lifted their price objective on shares of United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Finally, Citigroup lifted 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 investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company 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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