United Rentals, Inc. $URI Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in United Rentals, Inc. (NYSE:URI) by 0.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 405,245 shares of the construction company’s stock after purchasing an additional 2,213 shares during the period. Legal & General Group Plc’s holdings in United Rentals were worth $386,871,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in United Rentals by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock worth $5,646,208,000 after buying an additional 72,267 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of United Rentals by 71.3% in the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after acquiring an additional 780,322 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of United Rentals by 6.1% in the second quarter. Franklin Resources Inc. now owns 1,231,108 shares of the construction company’s stock worth $927,517,000 after acquiring an additional 70,870 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of United Rentals by 3.7% during the second quarter. Alliancebernstein L.P. now owns 1,030,232 shares of the construction company’s stock worth $776,177,000 after acquiring an additional 36,991 shares during the period. Finally, Norges Bank acquired a new stake in shares of United Rentals in the second quarter valued at $776,102,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 completion of the transaction, the executive vice president directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction 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. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by company insiders.

United Rentals Price Performance

United Rentals stock opened at $780.64 on Thursday. 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 company has a fifty day simple moving average of $871.41 and a 200-day simple moving average of $883.86. The stock has a market cap of $49.18 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.25 and a beta of 1.66. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47.

United Rentals (NYSE:URI) last posted its 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 business had revenue of $4.21 billion during 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% compared to the same quarter last year. During the same period last year, the company earned $11.59 EPS. Equities analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in 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 often an indication that the company’s management believes its stock is undervalued.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 11th. This is an increase from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio (DPR) is currently 20.37%.

Wall Street Analyst Weigh In

URI has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their target price on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday, January 30th. JPMorgan Chase & Co. cut their price target on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Wells Fargo & Company increased their price target on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Sanford C. Bernstein set a $965.00 price objective on United Rentals in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

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.