Truist Financial Corp Acquires 708 Shares of United Rentals, Inc. $URI

Truist Financial Corp boosted its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,609 shares of the construction company’s stock after purchasing an additional 708 shares during the period. Truist Financial Corp’s holdings in United Rentals were worth $12,633,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in URI. Abich Financial Wealth Management LLC bought a new stake in United Rentals in the third quarter worth about $29,000. Aventura Private Wealth LLC bought a new position in shares of United Rentals during the 4th quarter valued at approximately $27,000. Cedar Mountain Advisors LLC purchased a new stake in shares of United Rentals during the 3rd quarter worth approximately $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of United Rentals during the 3rd quarter worth approximately $35,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of United Rentals in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 2.3%

URI opened at $942.69 on Friday. United Rentals, Inc. has a one year low of $656.95 and a one year high of $1,021.47. The company has a fifty day moving average price of $805.22 and a 200-day moving average price of $838.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The firm has a market capitalization of $59.06 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 1.53 and a beta of 1.83.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.86 earnings per share. Equities research analysts expect that United Rentals, Inc. will post 46.99 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

United Rentals declared that its board has initiated a share repurchase program on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on URI. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the company an “outperform” rating in a research note on Thursday, April 9th. Robert W. Baird upped their price target on United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Truist Financial set a $1,209.00 price target on United Rentals in a research note on Friday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Finally, Royal Bank Of Canada boosted their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus target price of $986.35.

Insider Activity at United Rentals

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. The trade was a 14.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer owned 99,980 shares in the company, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,088 shares of company stock worth $25,628,877 in the last 90 days. 0.47% of the stock is currently owned by corporate 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.