NEOS Investment Management LLC Has $5.17 Million Stake in United Rentals, Inc. $URI

NEOS Investment Management LLC raised its stake in United Rentals, Inc. (NYSE:URI) by 21.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,413 shares of the construction company’s stock after purchasing an additional 966 shares during the quarter. NEOS Investment Management LLC’s holdings in United Rentals were worth $5,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC increased its position in United Rentals by 650.0% in the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of United Rentals during the 3rd quarter valued at $29,000. Cedar Mountain Advisors LLC bought a new position in shares of United Rentals during the 3rd quarter worth $32,000. Loomis Sayles & Co. L P purchased a new stake in United Rentals in the 2nd quarter worth about $28,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in United Rentals in the 3rd quarter valued at about $40,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the transaction, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. This trade represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the business’s 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 directly owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Trading Up 2.0%

NYSE URI opened at $880.39 on Thursday. The stock’s 50 day moving average is $863.00 and its 200 day moving average is $889.16. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $55.46 billion, a PE ratio of 22.76, a P/E/G ratio of 1.38 and a beta of 1.70. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47.

United Rentals (NYSE:URI) last released its earnings results 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 return on equity of 30.35% and a net margin of 15.49%.The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company posted $11.59 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals declared that its board has approved a share buyback program on Wednesday, January 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

United Rentals Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on URI shares. JPMorgan Chase & Co. dropped their target price on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Truist Financial set a $972.00 price objective on shares of United Rentals 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 on the stock in a research note on Sunday, January 4th. Wells Fargo & Company raised their price target on 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, Royal Bank Of Canada dropped their price target on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $925.59.

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.