Fountainhead AM LLC Buys New Holdings in United Rentals, Inc. (NYSE:URI)

Fountainhead AM LLC bought a new stake in United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 425 shares of the construction company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its position in United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. OFI Invest Asset Management purchased a new position in United Rentals in the third quarter valued at about $25,000. Larson Financial Group LLC raised its position in United Rentals by 1,525.0% in the fourth quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock valued at $37,000 after purchasing an additional 61 shares during the period. NBC Securities Inc. purchased a new position in United Rentals in the third quarter valued at about $29,000. Finally, Arlington Trust Co LLC raised its position in United Rentals by 50.0% in the fourth quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock valued at $48,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 5.2 %

United Rentals stock traded up $32.69 during midday trading on Tuesday, hitting $661.99. The stock had a trading volume of 597,752 shares, compared to its average volume of 581,718. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The stock has a market cap of $44.47 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.18 and a beta of 1.84. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month high of $732.37. The business has a fifty day moving average price of $679.75 and a 200 day moving average price of $575.51.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.85 by $0.41. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. United Rentals’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $9.74 earnings per share. Research analysts predict that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $1.63 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Tuesday, February 13th. United Rentals’s payout ratio is presently 18.44%.

United Rentals declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays raised their price objective on United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Evercore ISI lifted their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Morgan Stanley initiated coverage on United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price on the stock. The Goldman Sachs Group lifted their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, BNP Paribas reaffirmed an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $589.21.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is currently owned by insiders.

About United Rentals

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.