Rhumbline Advisers Cuts Position in United Rentals, Inc. $URI

Rhumbline Advisers lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 132,465 shares of the construction company’s stock after selling 1,894 shares during the quarter. Rhumbline Advisers’ holdings in United Rentals were worth $126,459,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of United Rentals in the second quarter worth $776,102,000. JPMorgan Chase & Co. increased its holdings in United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Boston Partners raised its position in United Rentals by 74.5% in the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after purchasing an additional 305,378 shares during the period. Lazard Asset Management LLC lifted its stake in shares of United Rentals by 34,208.2% during the second quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after purchasing an additional 188,487 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of United Rentals by 4,436.8% in the second quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock worth $123,221,000 after buying an additional 159,947 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the sale, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Trading Down 0.4%

NYSE:URI opened at $873.08 on Thursday. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. The company has a market cap of $55.00 billion, a PE ratio of 22.57, a P/E/G ratio of 1.40 and a beta of 1.70. The business’s 50 day moving average is $855.75 and its two-hundred day moving average is $889.53.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.86 by ($0.77). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company posted $11.59 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be given a dividend of $1.97 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, February 11th. United Rentals’s payout ratio is currently 20.37%.

Analyst Upgrades and Downgrades

URI has been the topic of several analyst reports. Truist Financial set a $972.00 target price on United Rentals in a report on Friday, January 30th. JPMorgan Chase & Co. dropped their price objective on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a research note on Sunday, January 4th. Wells Fargo & Company raised their price target on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $925.59.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.