Sycomore Asset Management Increases Holdings in United Rentals, Inc. (NYSE:URI)

Sycomore Asset Management lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 446.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,984 shares of the construction company’s stock after acquiring an additional 1,621 shares during the quarter. Sycomore Asset Management’s holdings in United Rentals were worth $1,148,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in United Rentals in the 3rd quarter valued at approximately $25,000. AdvisorNet Financial Inc lifted its stake in United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. NBC Securities Inc. purchased a new stake in United Rentals in the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC lifted its stake in United Rentals by 1,525.0% in the 4th quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock valued at $37,000 after buying an additional 61 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in United Rentals in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 0.9 %

Shares of URI stock traded down $6.25 on Wednesday, reaching $655.07. 641,013 shares of the stock were exchanged, compared to its average volume of 582,469. The stock has a market cap of $44.00 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $679.77 and a two-hundred day moving average of $576.07. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.39 by $0.76. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the firm earned $7.95 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.00%. United Rentals’s dividend payout ratio is currently 18.44%.

United Rentals announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on URI. Wells Fargo & Company upped their target price on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. The Goldman Sachs Group increased their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Barclays increased their price target on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Truist Financial assumed coverage on United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 price target on the stock. Finally, Evercore ISI increased their price target on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $589.21.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by insiders.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.