United Rentals, Inc. $URI Stake Boosted by Capital World Investors

Capital World Investors raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,678,614 shares of the construction company’s stock after purchasing an additional 168,685 shares during the period. Capital World Investors owned about 4.21% of United Rentals worth $2,557,158,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Optas LLC boosted its holdings in shares of United Rentals by 0.9% in the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock valued at $1,121,000 after buying an additional 10 shares during the period. CreativeOne Wealth LLC raised its stake 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 acquiring an additional 11 shares during the period. OFI Invest Asset Management lifted its holdings in United Rentals by 6.7% in the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after acquiring an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after acquiring an additional 11 shares during the period. Finally, Opal Wealth Advisors LLC boosted its stake in United Rentals by 2.7% in the third quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company’s stock valued at $430,000 after acquiring an additional 12 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on URI. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target on the stock in a research report on Sunday, January 4th. JPMorgan Chase & Co. lowered their price objective on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Truist Financial set a $972.00 target price on United Rentals in a research note on Friday, January 30th. Citigroup lowered their price target on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Two equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $925.59.

United Rentals Stock Performance

Shares of URI opened at $820.50 on Tuesday. The firm has a market capitalization of $51.69 billion, a PE ratio of 21.21, a P/E/G ratio of 1.31 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 firm has a 50-day moving average price of $872.83 and a 200 day moving average price of $885.68. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47.

United Rentals (NYSE:URI) last released its quarterly earnings results 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 company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $11.59 earnings per share. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share 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 a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. This represents a $7.88 annualized dividend and a dividend yield of 1.0%. United Rentals’s payout ratio is 20.37%.

United Rentals declared that its board has authorized a stock buyback plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to buy up to 8.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at United Rentals

In other news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction on 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 sale, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by company insiders.

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.