MainStreet Investment Advisors LLC Acquires Shares of 1,300 United Rentals, Inc. $URI

MainStreet Investment Advisors LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,300 shares of the construction company’s stock, valued at approximately $1,241,000.

Several other hedge funds have also modified their holdings of the business. Optas LLC lifted its position in shares of United Rentals by 0.9% during the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock valued at $1,121,000 after acquiring an additional 10 shares during the period. CreativeOne Wealth LLC grew its stake in United Rentals by 0.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock valued at $1,720,000 after acquiring an additional 11 shares during the last quarter. OFI Invest Asset Management increased its holdings in United Rentals by 6.7% during the 3rd quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock valued at $167,000 after acquiring an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after acquiring an additional 11 shares in the last quarter. Finally, Bank of Jackson Hole Trust raised its position in United Rentals by 12.0% during the second quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock worth $84,000 after acquiring an additional 12 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased 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 shares of United Rentals in a report 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 price target for the company in a report on Sunday, January 4th. Sanford C. Bernstein set a $965.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Finally, Royal Bank Of Canada decreased their target price on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $925.59.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction 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 owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William E. Grace sold 1,498 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by company insiders.

United Rentals Stock Performance

United Rentals stock opened at $908.05 on Monday. The company has a market cap of $57.21 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.70. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month 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. The stock’s 50-day moving average is $865.87 and its 200-day moving average is $889.76.

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

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be issued a $1.97 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a yield of 0.9%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio (DPR) is currently 20.37%.

United Rentals announced that its board has authorized a stock repurchase plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.