United Rentals, Inc. $URI Stake Lowered by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 47.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,954 shares of the construction company’s stock after selling 11,526 shares during the period. Swiss Life Asset Management Ltd’s holdings in United Rentals were worth $10,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of URI. Aventura Private Wealth LLC purchased a new position in shares of United Rentals during the 4th quarter valued at $27,000. Abich Financial Wealth Management LLC purchased a new position in shares of United Rentals during the 3rd quarter valued at $29,000. Board of the Pension Protection Fund purchased a new position in shares of United Rentals during the 4th quarter valued at $32,000. Laurel Wealth Advisors LLC purchased a new position in shares of United Rentals during the 4th quarter valued at $32,000. Finally, Fortitude Family Office LLC grew its holdings in shares of United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after acquiring an additional 23 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 1.9%

Shares of URI stock opened at $956.14 on Wednesday. United Rentals, Inc. has a 12 month low of $681.98 and a 12 month high of $1,021.47. The firm has a market cap of $59.90 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.49 and a beta of 1.83. The stock has a 50 day moving average of $810.83 and a 200-day moving average of $837.77. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the firm earned $8.86 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that United Rentals, Inc. will post 46.99 EPS for the current year.

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

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.97 per share. The ex-dividend date is Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals’s payout ratio is 20.10%.

Insider Activity at United Rentals

In related news, VP Andrew B. Limoges sold 548 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares in the company, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on URI. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an “outperform” rating in a report on Thursday, April 9th. KeyCorp upped their price objective on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Weiss Ratings cut shares of United Rentals from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Morgan Stanley reiterated an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Finally, Wells Fargo & Company upped their price objective 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. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $996.94.

About United Rentals

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.