Erste Asset Management GmbH Sells 789 Shares of United Rentals, Inc. $URI

Erste Asset Management GmbH lowered its stake in United Rentals, Inc. (NYSE:URI) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,584 shares of the construction company’s stock after selling 789 shares during the period. Erste Asset Management GmbH’s holdings in United Rentals were worth $3,383,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its stake in shares of United Rentals by 1.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,715 shares of the construction company’s stock valued at $16,912,000 after purchasing an additional 232 shares during the last quarter. Xponance Inc. raised its holdings in United Rentals by 8.6% during the 3rd quarter. Xponance Inc. now owns 12,196 shares of the construction company’s stock valued at $11,643,000 after buying an additional 961 shares during the period. Integrated Advisors Network LLC lifted its position in United Rentals by 18.8% in the third quarter. Integrated Advisors Network LLC now owns 18,201 shares of the construction company’s stock worth $17,376,000 after buying an additional 2,881 shares during the last quarter. DNB Asset Management AS boosted its stake in United Rentals by 4.6% during the third quarter. DNB Asset Management AS now owns 18,483 shares of the construction company’s stock worth $17,645,000 after buying an additional 819 shares during the period. Finally, Westpac Banking Corp increased its position in United Rentals by 33.7% during the third quarter. Westpac Banking Corp now owns 218 shares of the construction company’s stock valued at $208,000 after acquiring an additional 55 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction 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. This represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,184,753.22. Following the completion of the transaction, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.53% of the company’s stock.

United Rentals Trading Down 2.4%

Shares of NYSE URI opened at $837.85 on Friday. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The firm has a market cap of $52.78 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.70. The business has a fifty day simple moving average of $871.81 and a two-hundred day simple moving average of $889.32. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41.

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

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

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a dividend of $1.97 per share. This is a positive change 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 0.9%. United Rentals’s payout ratio is 20.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp set a $950.00 target price on shares of United Rentals in a report on Friday, January 30th. JPMorgan Chase & Co. decreased their price objective on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a research report on Sunday, January 4th. Wells Fargo & Company increased their price target on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, Truist Financial set a $972.00 price target on United Rentals in a research note on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price 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.