United Rentals, Inc. $URI Shares Sold by Quilter Plc

Key Points

• United Rentals' board approved a $5.0 billion share buyback (up to 8.7% of outstanding shares) and raised the quarterly dividend to $1.97 ($7.88 annualized), signaling management confidence in the stock.
• The company missed Q4 estimates, reporting $11.09 EPS vs. $11.86 expected and $4.21B revenue vs. $4.24B expected, though revenue was up 2.8% YoY; analysts still hold a "Moderate Buy" consensus with an average target of $925.59 and several firms projecting targets above $1,000.
• Two executive VPs sold stock recently—Michael D. Durand (~$1.97M) and William E. Grace (~$1.18M)—reducing their positions by 25.0% and 17.9% respectively; insiders own about 0.53% of the company.

Quilter Plc lowered its position in United Rentals, Inc. (NYSE:URI - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,770 shares of the construction company's stock after selling 3,241 shares during the quarter. United Rentals makes up approximately 1.4% of Quilter Plc's portfolio, making the stock its 26th biggest position. Quilter Plc owned approximately 0.16% of United Rentals worth $83,174,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Aventura Private Wealth LLC acquired a new stake in United Rentals during the 4th quarter worth $27,000. Salomon & Ludwin LLC grew its stake in shares of United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company's stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of United Rentals during the third quarter worth $29,000. Cedar Mountain Advisors LLC purchased a new position in United Rentals in the 3rd quarter valued at $32,000. Finally, Board of the Pension Protection Fund purchased a new position in United Rentals in the 4th quarter valued at $32,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on URI. Wells Fargo & Company upped their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an "overweight" rating in a research report on Friday, January 23rd. Royal Bank Of Canada cut their target price on United Rentals from $1,123.00 to $1,041.00 and set an "outperform" rating for the company in a research note on Friday, January 30th. Robert W. Baird set a $970.00 target price on United Rentals in a report on Friday, January 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of United Rentals in a research note on Wednesday, January 21st. Finally, Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and a consensus target price of $925.59.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the sale, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William E. Grace sold 1,498 shares of the firm's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the transaction, the executive vice president directly owned 6,872 shares of the company's stock, valued at $5,434,996.08. The trade was a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.53% of the company's stock.

United Rentals Stock Down 0.0%

United Rentals stock opened at $732.08 on Monday. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.18 and a beta of 1.68. The stock's fifty day moving average is $811.00 and its two-hundred day moving average is $857.07. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94.

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

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.1%. United Rentals's dividend payout ratio is 20.37%.

United Rentals announced that its board has approved a share 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 buy up to 8.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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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