United Rentals, Inc. $URI Stock Holdings Lowered by Shell Asset Management Co.

Shell Asset Management Co. lessened its position in United Rentals, Inc. (NYSE:URI) by 82.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,833 shares of the construction company’s stock after selling 8,730 shares during the period. Shell Asset Management Co.’s holdings in United Rentals were worth $1,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Woodline Partners LP boosted its position in shares of United Rentals by 40.0% during the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after buying an additional 1,577 shares during the period. Concurrent Investment Advisors LLC boosted its position in United Rentals by 6.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 534 shares of the construction company’s stock worth $402,000 after acquiring an additional 31 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of United Rentals by 2.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,362 shares of the construction company’s stock valued at $2,603,000 after purchasing an additional 88 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of United Rentals during the 2nd quarter worth about $309,000. Finally, Stratos Wealth Advisors LLC lifted its stake in shares of United Rentals by 13.2% in the 2nd quarter. Stratos Wealth Advisors LLC now owns 774 shares of the construction company’s stock worth $583,000 after acquiring an additional 90 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Price Performance

URI stock opened at $868.85 on Monday. The firm has a 50-day moving average of $858.47 and a two-hundred day moving average of $889.29. The firm has a market capitalization of $54.74 billion, a PE ratio of 22.46, a P/E/G ratio of 1.39 and a beta of 1.70. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a one year low of $525.91 and a one year high of $1,021.47.

United Rentals (NYSE:URI) last released its quarterly 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). 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 for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm earned $11.59 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals declared that its board has authorized a share buyback program on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $1.97 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, February 11th. United Rentals’s dividend payout ratio is presently 20.37%.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,498 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup lowered their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. KeyCorp set a $950.00 price objective on United Rentals in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Royal Bank Of Canada cut 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. Finally, Barclays lowered their price objective on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $925.59.

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.