United Rentals, Inc. $URI Shares Sold by Chevy Chase Trust Holdings LLC

Key Points

• United Rentals authorized a $5.00 billion share buyback (up to 8.7% of shares) and raised its quarterly dividend to $1.97 ($7.88 annualized), signaling a strong focus on returning capital to shareholders.
• The company reported quarterly EPS of $11.09 and revenue of $4.21 billion, missing analysts' estimates of $11.86 and $4.24 billion respectively, while the consensus analyst rating is a "Moderate Buy" with an average target of about $925.59.
• Chevy Chase Trust trimmed its stake in United Rentals by 4.2% to 33,174 shares (≈$31.7M), and insiders also sold shares in February; institutional investors collectively own about 96.26% of the stock.

Chevy Chase Trust Holdings LLC lowered its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,174 shares of the construction company's stock after selling 1,471 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of United Rentals worth $31,670,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of URI. Circle Wealth Management LLC purchased a new stake in shares of United Rentals in the 3rd quarter valued at $248,000. Ausdal Financial Partners Inc. raised its position in shares of United Rentals by 281.0% in the third quarter. Ausdal Financial Partners Inc. now owns 1,162 shares of the construction company's stock worth $1,109,000 after acquiring an additional 857 shares during the period. California Public Employees Retirement System boosted its stake in shares of United Rentals by 8.9% during the 3rd quarter. California Public Employees Retirement System now owns 120,520 shares of the construction company's stock worth $115,056,000 after acquiring an additional 9,801 shares in the last quarter. Chilton Investment Co. Inc. acquired a new stake in shares of United Rentals during the 3rd quarter valued at about $2,628,000. Finally, Alliancebernstein L.P. increased its stake in shares of United Rentals by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock valued at $1,038,870,000 after purchasing an additional 57,977 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Price Performance

NYSE:URI opened at $736.27 on Monday. The stock has a 50 day moving average of $867.74 and a two-hundred day moving average of $880.48. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The firm has a market cap of $46.39 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.66. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the firm earned $11.59 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. On average, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

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

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This is a boost from United Rentals's previous quarterly dividend of $1.79. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 1.1%. United Rentals's dividend payout ratio is presently 20.37%.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,498 shares of the company's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares of the company's stock, valued at $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares of the company's stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on URI shares. JPMorgan Chase & Co. lowered their price target on United Rentals from $1,150.00 to $970.00 and set an "overweight" rating on the stock in a research report on Friday, January 30th. Truist Financial set a $972.00 target price on United Rentals in a research note on Friday, January 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of United Rentals in a research report on Wednesday, January 21st. KeyCorp set a $950.00 price target on shares of United Rentals in a research note on Friday, January 30th. Finally, Robert W. Baird set a $970.00 price target on shares of United Rentals in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $925.59.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.