Pitcairn Co. Has $1.67 Million Position in United Rentals, Inc. $URI

Pitcairn Co. lessened its position in shares of United Rentals, Inc. (NYSE:URI) by 32.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,751 shares of the construction company’s stock after selling 825 shares during the period. Pitcairn Co.’s holdings in United Rentals were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Loomis Sayles & Co. L P bought a new position in United Rentals in the second quarter valued at approximately $28,000. Salomon & Ludwin LLC lifted its stake in United Rentals by 650.0% during the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of United Rentals in the 3rd quarter valued at $29,000. Cedar Mountain Advisors LLC acquired a new stake in shares of United Rentals in the 3rd quarter valued at $32,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of United Rentals in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 3.8%

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

United Rentals (NYSE:URI) last announced 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 business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company posted $11.59 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

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

United Rentals declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

URI has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Citigroup reduced their price target on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Royal Bank Of Canada lowered their price objective on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Truist Financial set a $972.00 target price on shares of United Rentals in a research report on Friday, January 30th. Finally, Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a research note on Friday, January 30th. Two 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’s stock. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Buying and Selling

In related news, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the transaction, the executive vice president directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the sale, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This represents a 25.03% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is owned by insiders.

United Rentals 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.