Institute for Wealth Management LLC. Has $4.58 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Institute for Wealth Management LLC. lowered its stake in United Rentals, Inc. (NYSE:URI) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,980 shares of the construction company’s stock after selling 69 shares during the period. United Rentals accounts for 0.7% of Institute for Wealth Management LLC.’s holdings, making the stock its 19th largest holding. Institute for Wealth Management LLC.’s holdings in United Rentals were worth $4,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. HTLF Bank acquired a new stake in United Rentals in the fourth quarter valued at approximately $681,000. Fidelis Capital Partners LLC acquired a new position in shares of United Rentals during the fourth quarter worth $274,000. SFE Investment Counsel lifted its holdings in shares of United Rentals by 45.1% during the fourth quarter. SFE Investment Counsel now owns 4,451 shares of the construction company’s stock worth $2,552,000 after purchasing an additional 1,384 shares during the period. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of United Rentals during the fourth quarter worth $220,000. Finally, Twin Capital Management Inc. acquired a new position in shares of United Rentals during the fourth quarter worth $227,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 0.9 %

United Rentals stock traded down $5.66 during midday trading on Friday, hitting $627.22. 338,974 shares of the stock were exchanged, compared to its average volume of 575,781. United Rentals, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37. The stock has a market capitalization of $42.13 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 2.21 and a beta of 1.84. The business’s 50-day moving average price is $680.37 and its 200-day moving average price is $569.06. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24.

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

United Rentals declared that its board has approved a stock buyback plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a dividend of $1.63 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Tuesday, February 13th. United Rentals’s dividend payout ratio is presently 18.44%.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on URI. Morgan Stanley began coverage on shares of United Rentals in a report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird lifted their price target 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. Wells Fargo & Company boosted their target price on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Truist Financial started coverage on shares of United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $589.21.

About United Rentals

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.