Phoenix Financial Ltd. lowered its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 35.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,204 shares of the construction company’s stock after selling 664 shares during the period. Phoenix Financial Ltd.’s holdings in United Rentals were worth $974,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital International Investors grew its stake in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after buying an additional 631,484 shares during the last quarter. Capital World Investors grew its stake in United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after buying an additional 168,685 shares during the last quarter. Franklin Resources Inc. grew its stake in United Rentals by 6.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock valued at $1,255,460,000 after buying an additional 83,978 shares during the last quarter. Alliancebernstein L.P. grew its stake in United Rentals by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock valued at $1,038,870,000 after buying an additional 57,977 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in United Rentals by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 948,386 shares of the construction company’s stock valued at $905,313,000 after buying an additional 26,847 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.
Insider Activity
In other news, CEO Matthew John Flannery sold 22,768 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the sale, the chief executive officer owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the sale, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 26,088 shares of company stock worth $25,628,877. Insiders own 0.47% of the company’s stock.
United Rentals Stock Performance
United Rentals (NYSE:URI – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the previous year, the company earned $8.86 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts predict that United Rentals, Inc. will post 47.07 earnings per share for the current year.
United Rentals announced that its Board of Directors has authorized a share buyback program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
United Rentals Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s dividend payout ratio is 20.10%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Truist Financial set a $1,209.00 target price on shares of United Rentals in a research report on Friday, April 24th. Sanford C. Bernstein set a $903.00 target price on shares of United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Royal Bank Of Canada increased their target price 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. Finally, Evercore restated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $996.94.
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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