Swiss National Bank Cuts Stake in United Rentals, Inc. (NYSE:URI)

Swiss National Bank lessened its holdings in United Rentals, Inc. (NYSE:URI) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,500 shares of the construction company’s stock after selling 7,600 shares during the quarter. Swiss National Bank owned 0.32% of United Rentals worth $122,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased 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 worth $9,588,000 after buying an additional 1,304 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of United Rentals during the fourth quarter valued at approximately $2,351,000. Verdence Capital Advisors LLC bought a new position in shares of United Rentals in the fourth quarter worth approximately $257,000. Graybill Wealth Management LTD. increased its stake in shares of United Rentals by 0.6% in 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. Finally, Pinnacle Associates Ltd. raised its holdings in United Rentals by 55.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after buying an additional 2,289 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

United Rentals stock opened at $666.66 on Friday. United Rentals, Inc. has a twelve month low of $325.15 and a twelve month high of $732.37. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $44.39 billion, a P/E ratio of 18.06, a PEG ratio of 2.17 and a beta of 1.82. The stock’s 50 day moving average is $683.37 and its 200 day moving average is $586.57.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the firm posted $7.95 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that United Rentals, Inc. will post 43.52 earnings per share for the current fiscal year.

United Rentals declared that its board has initiated a share buyback program on Wednesday, January 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $1.63 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 0.98%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insider Transactions 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 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 directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other United Rentals news, 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 completion of the transaction, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the sale, 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. Over the last 90 days, insiders have sold 9,713 shares of company stock worth $6,747,384. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Evercore ISI upped their target price on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Morgan Stanley assumed coverage on United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Barclays lifted their target price on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $600.79.

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.