United Rentals, Inc. $URI Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC lowered its holdings in United Rentals, Inc. (NYSE:URI) by 4.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,814 shares of the construction company’s stock after selling 840 shares during the quarter. United Rentals comprises approximately 2.9% of Renaissance Investment Group LLC’s portfolio, making the stock its 12th largest holding. Renaissance Investment Group LLC’s holdings in United Rentals were worth $14,417,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital International Investors boosted its position in United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares during the period. Capital World Investors raised its position in United Rentals by 6.7% in the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after purchasing an additional 168,685 shares during the period. JPMorgan Chase & Co. raised its position in United Rentals by 71.3% in the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after purchasing an additional 780,322 shares during the period. Franklin Resources Inc. lifted its stake in shares of United Rentals by 6.8% during the third quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after purchasing an additional 83,978 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of United Rentals by 5.6% during the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after purchasing an additional 57,977 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of URI stock opened at $720.91 on Friday. The firm has a fifty day moving average of $854.75 and a two-hundred day moving average of $875.33. The firm has a market cap of $45.42 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.17 and a beta of 1.66. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company posted $11.59 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals announced that its board has authorized a stock repurchase program 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 programs are typically an indication that the company’s leadership believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were issued a dividend of $1.97 per share. 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 1.1%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio (DPR) is 20.37%.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 7,458 shares in the company, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William E. Grace sold 1,498 shares of the stock in a transaction 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 sale, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on URI. Truist Financial set a $972.00 target price on United Rentals in a research note on Friday, January 30th. Royal Bank Of Canada decreased their price target 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. Citigroup dropped their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Finally, KeyCorp set a $950.00 price target on shares of United Rentals in a research note on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

About United Rentals

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.