Capital International Investors Raises Position in United Rentals, Inc. $URI

Capital International Investors lifted its position in United Rentals, Inc. (NYSE:URI) by 22.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,402,524 shares of the construction company’s stock after acquiring an additional 631,484 shares during the quarter. Capital International Investors owned approximately 0.05% of United Rentals worth $3,247,762,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can grew its position in United Rentals by 6.8% during the third quarter. Bank of Montreal Can now owns 114,507 shares of the construction company’s stock valued at $109,316,000 after buying an additional 7,278 shares during the period. Legal & General Group Plc raised its position in shares of United Rentals by 0.5% in the third quarter. Legal & General Group Plc now owns 405,245 shares of the construction company’s stock valued at $386,871,000 after purchasing an additional 2,213 shares during the period. PFG Advisors grew its stake in United Rentals by 11.7% in the 3rd quarter. PFG Advisors now owns 953 shares of the construction company’s stock valued at $909,000 after buying an additional 100 shares in the last quarter. Rathbones Group PLC purchased a new position in shares of United Rentals in the third quarter valued at $242,000. Finally, Parallel Advisors LLC grew its holdings in United Rentals by 1.9% during the 3rd quarter. Parallel Advisors LLC now owns 1,465 shares of the construction company’s stock valued at $1,399,000 after buying an additional 28 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Activity at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the business’s 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 completion of the sale, the executive vice president directly owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.51% of the company’s stock.

United Rentals Price Performance

URI opened at $820.50 on Tuesday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47. The stock has a 50-day moving average price of $872.83 and a 200-day moving average price of $885.68. The firm has a market cap of $51.69 billion, a PE ratio of 21.21, a P/E/G ratio of 1.31 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88.

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

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

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 1.0%. United Rentals’s dividend payout ratio is presently 20.37%.

Analyst Upgrades and Downgrades

URI has been the subject of a number of recent research reports. Truist Financial set a $972.00 target price on United Rentals in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Wells Fargo & Company lifted their price objective on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Citigroup decreased their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, Robert W. Baird set a $970.00 price objective on shares of United Rentals in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.