Gamco Investors INC. ET AL Reduces Holdings in United Rentals, Inc. $URI

Gamco Investors INC. ET AL lowered its position in United Rentals, Inc. (NYSE:URI) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,831 shares of the construction company’s stock after selling 1,269 shares during the quarter. Gamco Investors INC. ET AL owned 0.05% of United Rentals worth $30,388,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Aptus Capital Advisors LLC lifted its stake in shares of United Rentals by 8.8% in the third quarter. Aptus Capital Advisors LLC now owns 1,810 shares of the construction company’s stock worth $1,728,000 after acquiring an additional 147 shares in the last quarter. LOM Asset Management Ltd boosted its stake in United Rentals by 3.4% during the 3rd quarter. LOM Asset Management Ltd now owns 2,215 shares of the construction company’s stock valued at $2,115,000 after acquiring an additional 73 shares during the last quarter. Perennial Investment Advisors LLC grew its holdings in United Rentals by 10.8% during the 3rd quarter. Perennial Investment Advisors LLC now owns 359 shares of the construction company’s stock worth $343,000 after acquiring an additional 35 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in United Rentals by 1.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 5,328 shares of the construction company’s stock worth $5,086,000 after acquiring an additional 72 shares in the last quarter. Finally, Leeward Financial Partners LLC bought a new stake in shares of United Rentals in the 3rd quarter worth about $241,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

URI opened at $811.30 on Friday. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The company’s 50-day moving average price is $872.79 and its 200 day moving average price is $886.49. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41.

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

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a yield of 1.0%. This is an increase from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s payout ratio is presently 20.37%.

United Rentals declared that its board has initiated a share repurchase plan on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on URI. Wells Fargo & Company increased their price target on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Truist Financial set a $972.00 price objective on United Rentals in a report on Friday, January 30th. JPMorgan Chase & Co. cut their price objective on 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. KeyCorp set a $950.00 target price on United Rentals in a report on Friday, January 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares in the company, valued at $5,900,322.12. This represents a 25.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction 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 $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.53% of the company’s stock.

About United Rentals

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.