Keystone Investors PTE Ltd. Sells 1,308 Shares of United Rentals, Inc. $URI

Keystone Investors PTE Ltd. lowered its holdings in shares of United Rentals, Inc. (NYSE:URI) by 83.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 253 shares of the construction company’s stock after selling 1,308 shares during the period. Keystone Investors PTE Ltd.’s holdings in United Rentals were worth $242,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in United Rentals by 1.0% during the second quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock worth $5,646,208,000 after acquiring an additional 72,267 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of United Rentals by 71.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after purchasing an additional 780,322 shares during the last quarter. Franklin Resources Inc. lifted its stake in United Rentals by 6.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,231,108 shares of the construction company’s stock valued at $927,517,000 after purchasing an additional 70,870 shares during the last quarter. Alliancebernstein L.P. lifted its stake in United Rentals by 3.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,030,232 shares of the construction company’s stock valued at $776,177,000 after purchasing an additional 36,991 shares during the last quarter. Finally, Norges Bank acquired a new stake in United Rentals in the second quarter valued at approximately $776,102,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

NYSE:URI opened at $837.85 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The company has a 50 day simple moving average of $871.81 and a two-hundred day simple moving average of $889.52. The company has a market capitalization of $52.78 billion, a PE ratio of 21.66, a P/E/G ratio of 1.39 and a beta of 1.70.

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

United Rentals Increases Dividend

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

United Rentals declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on URI shares. Royal Bank Of Canada lowered their price target on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday, January 30th. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a report on Sunday, January 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Truist Financial set a $972.00 price objective on shares of United Rentals in a report on Friday, January 30th. Finally, Wells Fargo & Company boosted their target price on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Two investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $925.59.

Insider Activity

In other news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William E. Grace sold 1,498 shares of the company’s 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 sale, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.53% of the company’s stock.

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.