NZS Capital LLC Sells 15,300 Shares of United Rentals, Inc. $URI

NZS Capital LLC trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 13.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,318 shares of the construction company’s stock after selling 15,300 shares during the period. United Rentals comprises approximately 2.8% of NZS Capital LLC’s investment portfolio, making the stock its 12th largest holding. NZS Capital LLC’s holdings in United Rentals were worth $90,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new stake in United Rentals during the second quarter worth about $28,000. Salomon & Ludwin LLC grew its position in shares of United Rentals by 650.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of United Rentals during the 3rd quarter worth approximately $29,000. Cedar Mountain Advisors LLC bought a new stake in shares of United Rentals in the 3rd quarter worth approximately $32,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in United Rentals in the third quarter valued at approximately $40,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Up 1.7%

Shares of URI opened at $834.70 on Wednesday. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The stock has a market cap of $52.59 billion, a PE ratio of 21.58, a P/E/G ratio of 1.33 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. The business’s 50-day moving average price is $872.23 and its 200-day moving average price is $887.77.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $11.59 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Wednesday, February 11th were given 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 was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.9%. United Rentals’s dividend payout ratio (DPR) is presently 20.37%.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on URI. UBS Group raised 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. KeyCorp set a $950.00 price objective on United Rentals in a research note on Friday, January 30th. Robert W. Baird set a $970.00 target price on shares of United Rentals in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock 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 assigned a Sell rating to the company. According to data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus price target of $925.59.

Insider Buying and Selling at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction dated 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 completion of 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was 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 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% of the company’s stock.

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.