Mission Wealth Management LP cut its stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,068 shares of the construction company’s stock after selling 674 shares during the quarter. Mission Wealth Management LP’s holdings in United Rentals were worth $5,720,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC acquired a new position in shares of United Rentals during the 4th quarter worth $27,000. Abich Financial Wealth Management LLC acquired a new position in shares of United Rentals during the 3rd quarter worth $29,000. Board of the Pension Protection Fund acquired a new position in shares of United Rentals during the 4th quarter worth $32,000. Laurel Wealth Advisors LLC acquired a new position in shares of United Rentals during the 4th quarter worth $32,000. Finally, Fortitude Family Office LLC grew its stake in shares of United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock worth $34,000 after purchasing an additional 23 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently weighed in on URI. Royal Bank Of Canada upped their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Citigroup upped their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Truist Financial set a $1,209.00 price target on shares of United Rentals in a research note on Friday, April 24th. Barclays upped their price target on shares of United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a research note on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $996.94.
United Rentals Price Performance
Shares of NYSE URI opened at $961.22 on Monday. The stock has a market cap of $60.22 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 1.53 and a beta of 1.83. United Rentals, Inc. has a 52 week low of $681.98 and a 52 week high of $1,021.47. The company’s 50-day moving average price is $818.01 and its 200 day moving average price is $838.75. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.
United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. United Rentals’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $8.86 earnings per share. As a group, research analysts forecast that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.
United Rentals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s dividend payout ratio is presently 20.10%.
United Rentals declared that its board has initiated a share buyback plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at United Rentals
In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the transaction, the executive vice president owned 14,774 shares in the company, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 in the last quarter. Insiders own 0.47% of the company’s stock.
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.
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