Capital Research Global Investors Sells 429,994 Shares of United Rentals, Inc. $URI

Capital Research Global Investors reduced its position in United Rentals, Inc. (NYSE:URI) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,955,961 shares of the construction company’s stock after selling 429,994 shares during the period. Capital Research Global Investors’ holdings in United Rentals were worth $2,821,870,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Salomon & Ludwin LLC lifted its holdings in United Rentals by 650.0% during 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 period. Abich Financial Wealth Management LLC purchased a new position in shares of United Rentals in the 3rd quarter valued at $29,000. Cedar Mountain Advisors LLC bought a new position in shares of United Rentals in the 3rd quarter worth $32,000. Loomis Sayles & Co. L P purchased a new stake in shares of United Rentals during the 2nd quarter worth $28,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of United Rentals during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the 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 directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction dated 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 sale, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $820.50 on Tuesday. The stock has a market capitalization of $51.69 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.31 and a beta of 1.66. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. The stock has a 50-day moving average of $872.83 and a 200 day moving average of $885.68.

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

United Rentals declared that its Board of Directors has approved a share 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 reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on URI. Sanford C. Bernstein set a $965.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Wells Fargo & Company boosted their target price on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Royal Bank Of Canada dropped their target price on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Finally, KeyCorp set a $950.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals 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.