VIRGINIA RETIREMENT SYSTEMS ET Al Increases Stock Position in United Rentals, Inc. $URI

Key Points

• Virginia Retirement Systems boosted its United Rentals stake by 19.6% in the fourth quarter, bringing its holdings to 59,940 shares valued at about $48.5 million.
• United Rentals reported Q1 earnings of $9.71 per share, missing analyst estimates, while revenue of $3.99 billion also came in below expectations though still rose 7.2% year over year.
• The company announced a $5 billion share buyback and a quarterly dividend of $1.97 per share, even as several executives recently sold shares and analysts largely maintain a Moderate Buy outlook.

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in United Rentals, Inc. (NYSE:URI - Free Report) by 19.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,940 shares of the construction company's stock after purchasing an additional 9,840 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.10% of United Rentals worth $48,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in URI. Aventura Private Wealth LLC bought a new position in United Rentals during the 4th quarter valued at $27,000. Abich Financial Wealth Management LLC bought a new position in United Rentals during the 3rd quarter valued at $29,000. Board of the Pension Protection Fund bought a new position in United Rentals during the 4th quarter valued at $32,000. Laurel Wealth Advisors LLC bought a new position in United Rentals during the 4th quarter valued at $32,000. Finally, Fortitude Family Office LLC boosted its stake in United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock valued at $34,000 after acquiring an additional 23 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on URI. Weiss Ratings downgraded shares of United Rentals from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 4th. KeyCorp increased their price objective on shares of United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Evercore reiterated an "outperform" rating and set a $1,101.00 price objective on shares of United Rentals in a research note on Monday. Royal Bank Of Canada increased 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 research note on Friday, April 24th. Finally, Citigroup raised their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $996.94.

United Rentals Trading Up 1.9%

United Rentals stock opened at $956.14 on Wednesday. The firm's 50-day moving average is $810.83 and its 200-day moving average is $837.77. 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 1 year low of $681.98 and a 1 year high of $1,021.47. The company has a market cap of $59.90 billion, a P/E ratio of 24.39, a PEG ratio of 1.49 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period last year, the business earned $8.86 EPS. The firm's revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that United Rentals, Inc. will post 46.99 earnings per share for the current year.

United Rentals Dividend Announcement

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 paid a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals's dividend payout ratio (DPR) is presently 20.10%.

United Rentals declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at United Rentals

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were 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 of the company's stock, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the firm'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. The trade was a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 in the last 90 days. Corporate insiders own 0.47% of the company's stock.

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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