Truist Financial Corp Cuts Holdings in United Rentals, Inc. (NYSE:URI)

Truist Financial Corp cut its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,602 shares of the construction company's stock after selling 6,239 shares during the quarter. Truist Financial Corp owned 0.06% of United Rentals worth $24,429,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in United Rentals by 58,829.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company's stock valued at $598,106,000 after purchasing an additional 1,041,281 shares during the period. Invesco Ltd. raised its holdings in United Rentals by 19.1% during the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company's stock valued at $414,974,000 after buying an additional 149,838 shares during the period. Northern Trust Corp lifted its position in United Rentals by 1.5% in the third quarter. Northern Trust Corp now owns 680,217 shares of the construction company's stock worth $302,404,000 after buying an additional 10,018 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in United Rentals by 12.7% during the third quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company's stock worth $284,061,000 after buying an additional 72,066 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in United Rentals by 9.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,872 shares of the construction company's stock valued at $173,770,000 after acquiring an additional 35,295 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Down 6.3 %

Shares of NYSE:URI traded down $44.87 during trading hours on Tuesday, hitting $667.82. The company's stock had a trading volume of 1,081,589 shares, compared to its average volume of 594,191. The firm's fifty day moving average price is $682.42 and its 200 day moving average price is $582.31. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37. The company has a market capitalization of $44.47 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.10 and a beta of 1.84. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. United Rentals's revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $7.95 earnings per share. As a group, research analysts expect that United Rentals, Inc. will post 43.54 EPS for the current year.

United Rentals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals's payout ratio is 17.66%.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the firm's stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares of the company's stock, valued at $72,341,742. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William E. Grace sold 775 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

URI has been the subject of several analyst reports. Stifel Nicolaus raised their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a "buy" rating in a report on Friday. Oppenheimer restated a "market perform" rating on shares of United Rentals in a research report on Monday. BNP Paribas reiterated an "underperform" rating and issued a $485.00 price target on shares of United Rentals in a report on Friday, January 5th. Barclays boosted their price objective on United Rentals from $325.00 to $400.00 and gave the company an "underweight" rating in a report on Friday, January 26th. Finally, Wells Fargo & Company increased their target price on United Rentals from $630.00 to $710.00 and gave the stock an "overweight" rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $600.79.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.