United Rentals, Inc. (NYSE:URI) Shares Sold by SVB Wealth LLC

SVB Wealth LLC cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,453 shares of the construction company’s stock after selling 2,161 shares during the period. SVB Wealth LLC’s holdings in United Rentals were worth $4,848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of United Rentals by 6.4% during the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock worth $9,588,000 after buying an additional 1,304 shares during the period. Graybill Wealth Management LTD. boosted its position in shares of United Rentals by 0.6% during the third 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 period. Pinnacle Associates Ltd. boosted its position in shares of United Rentals by 55.5% during the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock worth $3,677,000 after buying an additional 2,289 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in United Rentals in the fourth quarter worth approximately $22,529,000. Finally, Teza Capital Management LLC lifted its position in United Rentals by 40.5% in the third quarter. Teza Capital Management LLC now owns 5,012 shares of the construction company’s stock worth $2,228,000 after purchasing an additional 1,445 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.49% of the company’s stock.

United Rentals Price Performance

Shares of NYSE:URI opened at $655.97 on Wednesday. The stock has a fifty day moving average of $680.99 and a 200-day moving average of $568.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37. The company has a market capitalization of $44.06 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.31 and a beta of 1.84.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the business earned $9.74 EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals declared that its board has authorized a share buyback program on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, February 13th. United Rentals’s payout ratio is 18.44%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on URI. Evercore ISI upped their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird upped their target price on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Wells Fargo & Company upped their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Morgan Stanley began coverage on United Rentals in a research report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 target price for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, United Rentals currently has a consensus rating of “Hold” and an average target price of $589.21.

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.