United Rentals, Inc. $URI Shares Sold by RKL Wealth Management LLC

RKL Wealth Management LLC trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 10.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,174 shares of the construction company’s stock after selling 726 shares during the period. RKL Wealth Management LLC’s holdings in United Rentals were worth $5,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Optas LLC lifted its stake in United Rentals by 0.9% during the third quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 10 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in United Rentals by 0.5% during the second quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock worth $1,720,000 after purchasing an additional 11 shares in the last quarter. OFI Invest Asset Management lifted its position in shares of United Rentals by 6.7% during the 3rd quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after buying an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after buying an additional 11 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its position in shares of United Rentals by 12.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock valued at $84,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $854.70 on Thursday. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month 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. The business has a 50 day simple moving average of $870.14 and a 200-day simple moving average of $889.96. The stock has a market capitalization of $53.85 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.44 and a beta of 1.70.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share 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 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 last year, the business earned $11.59 earnings per share. Equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were issued a dividend of $1.97 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 20.37%.

Insider Transactions at United Rentals

In other news, EVP William E. Grace sold 1,498 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. KeyCorp set a $950.00 target price on United Rentals in a research report on Friday, January 30th. Wells Fargo & Company upped their target price 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. Truist Financial set a $972.00 price target on United Rentals in a research report on Friday, January 30th. Finally, Citigroup decreased their price objective on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average target price 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.