Pettee Investors Inc. Acquires 800 Shares of United Rentals, Inc. $URI

Pettee Investors Inc. increased its holdings in United Rentals, Inc. (NYSE:URI) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,958 shares of the construction company’s stock after buying an additional 800 shares during the quarter. United Rentals comprises approximately 3.2% of Pettee Investors Inc.’s investment portfolio, making the stock its 7th largest holding. Pettee Investors Inc.’s holdings in United Rentals were worth $5,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of URI. Capital International Investors increased its holdings in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares during the period. TD Asset Management Inc increased its holdings in United Rentals by 66.5% in the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after buying an additional 193,416 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock worth $159,184,000 after buying an additional 191,162 shares during the period. Capital World Investors increased its holdings in United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after buying an additional 168,685 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in United Rentals by 3,094.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company’s stock worth $148,233,000 after buying an additional 150,412 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP William E. Grace sold 1,498 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was 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 filing with the SEC, which is available at the SEC website. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 30,076 shares of company stock worth $28,783,569. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

URI has been the topic of several research reports. KeyCorp increased their price target on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Barclays increased their price target on shares of United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. JPMorgan Chase & Co. increased their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Finally, Royal Bank Of Canada upped their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $986.35.

United Rentals Trading Down 0.8%

United Rentals stock opened at $952.13 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12 month low of $645.18 and a 12 month high of $1,021.47. The stock’s 50 day simple moving average is $802.13 and its two-hundred day simple moving average is $841.19. The firm has a market cap of $59.65 billion, a PE ratio of 24.29, a P/E/G ratio of 1.51 and a beta of 1.83.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the company posted $8.86 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that United Rentals, Inc. will post 46.99 earnings per share for the current year.

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

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, May 13th. United Rentals’s dividend payout ratio is currently 20.10%.

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.