Keel Point LLC Has $1.81 Million Stock Position in United Rentals, Inc. $URI

Keel Point LLC cut its stake in United Rentals, Inc. (NYSE:URI) by 32.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,899 shares of the construction company’s stock after selling 926 shares during the period. Keel Point LLC’s holdings in United Rentals were worth $1,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in URI. Hudson Bay Capital Management LP lifted its position in shares of United Rentals by 19.1% in the 3rd quarter. Hudson Bay Capital Management LP now owns 810 shares of the construction company’s stock worth $773,000 after purchasing an additional 130 shares during the period. Allworth Financial LP increased its position in shares of United Rentals by 12.9% during the third quarter. Allworth Financial LP now owns 1,165 shares of the construction company’s stock worth $1,112,000 after buying an additional 133 shares during the period. Swiss Life Asset Management Ltd raised its stake in United Rentals by 10.0% during the third quarter. Swiss Life Asset Management Ltd now owns 24,480 shares of the construction company’s stock worth $23,370,000 after buying an additional 2,223 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in United Rentals during the third quarter worth $35,000. Finally, Opes Wealth Management LLC acquired a new position in United Rentals in the third quarter valued at $243,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on URI shares. Wells Fargo & Company upped their price target 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. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective on the stock in a research note on Sunday, January 4th. JPMorgan Chase & Co. cut their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on United Rentals in a research note on Friday, January 30th. Finally, Truist Financial set a $972.00 target price on United Rentals in a report 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $925.59.

United Rentals Trading Down 2.6%

NYSE:URI opened at $725.37 on Thursday. United Rentals, Inc. has a 12 month low of $525.91 and a 12 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 market capitalization of $45.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.20 and a beta of 1.66. The firm has a fifty day simple moving average of $858.72 and a two-hundred day simple moving average of $876.41.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing the consensus estimate of $11.86 by ($0.77). The company had revenue of $4.21 billion for 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%. United Rentals’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.59 EPS. Analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a yield of 1.1%. United Rentals’s dividend payout ratio (DPR) is currently 20.37%.

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

Insider Activity at United Rentals

In other news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was 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 $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the transaction, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. 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 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.