Kennedy Investment Group Sells 1,244 Shares of United Rentals, Inc. $URI

Kennedy Investment Group trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,382 shares of the construction company’s stock after selling 1,244 shares during the quarter. United Rentals accounts for about 1.3% of Kennedy Investment Group’s portfolio, making the stock its 14th largest position. Kennedy Investment Group’s holdings in United Rentals were worth $3,546,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in URI. Capital International Investors grew its position in shares of United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares during the period. TD Asset Management Inc grew its position in United Rentals by 66.5% in the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock valued at $462,485,000 after purchasing an additional 193,416 shares during the period. Robeco Institutional Asset Management B.V. grew its position in United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after purchasing an additional 191,162 shares during the period. Capital World Investors grew its position in United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after purchasing an additional 168,685 shares during the period. Finally, Public Sector Pension Investment Board grew its position in United Rentals by 3,094.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company’s stock valued at $148,233,000 after purchasing an additional 150,412 shares during the period. 96.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

URI has been the subject of several research reports. Truist Financial set a $1,209.00 price target on shares of United Rentals in a research report on Friday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. KeyCorp lifted their price target on shares of United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Wells Fargo & Company lifted their price target on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, Barclays lifted their price target on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $996.94.

Insider Activity

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,088 shares of company stock valued at $25,628,877 over the last quarter. 0.47% of the stock is owned by insiders.

United Rentals Price Performance

URI opened at $929.38 on Wednesday. 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 company has a market capitalization of $58.23 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 1.50 and a beta of 1.83. The firm’s fifty day moving average price is $822.41 and its two-hundred day moving average price is $839.63. United Rentals, Inc. has a 1 year low of $681.98 and a 1 year high of $1,021.47.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $8.86 earnings per share. As a group, analysts anticipate that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $1.97 per share. 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 payout ratio is currently 20.10%.

United Rentals announced that its board has approved a share buyback program on Wednesday, January 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.