Louisbourg Investments Inc. increased its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 22.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,706 shares of the construction company’s stock after purchasing an additional 1,595 shares during the quarter. Louisbourg Investments Inc.’s holdings in United Rentals were worth $6,343,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new position in shares of United Rentals in the 4th quarter worth $27,000. Core Wealth Advisors LLC purchased a new stake in United Rentals during the fourth quarter valued at $28,000. MV Capital Management Inc. purchased a new stake in United Rentals during the fourth quarter valued at $28,000. Board of the Pension Protection Fund bought a new position in United Rentals in the fourth quarter valued at about $32,000. Finally, Laurel Wealth Advisors LLC purchased a new position in United Rentals in the fourth quarter worth about $32,000. Institutional investors own 96.26% of the company’s stock.
Insiders Place Their Bets
In other news, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,088 shares of company stock valued at $25,628,877 over the last three months. Insiders own 0.47% of the company’s stock.
United Rentals Stock Down 1.4%
United Rentals (NYSE:URI – Get Free Report) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the prior year, the company posted $8.86 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that United Rentals, Inc. will post 47.26 EPS for the current year.
United Rentals Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is 20.10%.
Analyst Ratings Changes
Several research firms have recently commented on URI. Truist Financial set a $1,209.00 price target on shares of United Rentals in a research report on Friday, April 24th. KeyCorp raised their price objective on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird boosted their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. UBS Group upped their target price on shares of United Rentals from $1,025.00 to $1,145.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada increased 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 report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,070.50.
Get Our Latest Analysis on URI
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.
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