PNC Financial Services Group Inc. Decreases Holdings in United Rentals, Inc. (NYSE:URI)

PNC Financial Services Group Inc. decreased its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,018 shares of the construction company's stock after selling 1,814 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.10% of United Rentals worth $39,003,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of United Rentals by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company's stock valued at $9,588,000 after buying an additional 1,304 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in United Rentals in the 4th quarter valued at $2,351,000. Verdence Capital Advisors LLC acquired a new position in United Rentals in the 4th quarter valued at $257,000. Graybill Wealth Management LTD. raised its position in United Rentals by 0.6% during the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company's stock worth $4,218,000 after buying an additional 58 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in shares of United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company's stock worth $3,677,000 after acquiring an additional 2,289 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Trading Down 0.9 %

Shares of United Rentals stock traded down $6.18 during trading hours on Tuesday, reaching $694.95. The stock had a trading volume of 276,014 shares, compared to its average volume of 564,131. The firm has a market capitalization of $46.28 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 2.23 and a beta of 1.82. United Rentals, Inc. has a 1 year low of $330.30 and a 1 year high of $732.37. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The firm has a 50 day simple moving average of $685.35 and a two-hundred day simple moving average of $612.17.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.95 earnings per share. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.61 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. United Rentals's dividend payout ratio (DPR) is presently 17.66%.

United Rentals announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URI. Oppenheimer reiterated a "market perform" rating on shares of United Rentals in a research note on Monday, April 29th. Truist Financial increased their price objective on United Rentals from $793.00 to $796.00 and gave the stock a "buy" rating in a research report on Monday, April 29th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $718.00 to $790.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Wells Fargo & Company upped their price target on shares of United Rentals from $630.00 to $710.00 and gave the stock an "overweight" rating in a research note on Friday, January 26th. Finally, Robert W. Baird boosted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an "underperform" rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $600.79.

Insiders Place Their Bets

In related news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction on Tuesday, April 30th. The shares were 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 in the company, valued at $72,341,742. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Michael D. Durand sold 559 shares of the firm's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

United Rentals 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.