Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of United Rentals, Inc. (NYSE:URI – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,935 shares of the construction company’s stock, valued at approximately $1,566,000.
Other institutional investors have also recently bought and sold shares of the company. Aventura Private Wealth LLC acquired a new stake in United Rentals during the 4th quarter worth about $27,000. Abich Financial Wealth Management LLC acquired a new stake in United Rentals during the 3rd quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in United Rentals during the 4th quarter worth about $32,000. Laurel Wealth Advisors LLC acquired a new stake in United Rentals during the 4th quarter worth about $32,000. Finally, Fortitude Family Office LLC boosted its position in 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 acquiring an additional 23 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
URI has been the subject of a number of research reports. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised their price objective on United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Barclays raised their price objective on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Morgan Stanley restated an “overweight” rating and set a $1,030.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Finally, Evercore restated an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.
United Rentals Stock Performance
Shares of NYSE URI opened at $931.17 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average is $827.82 and its two-hundred day moving average is $840.57. The company has a market cap of $58.34 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.49 and a beta of 1.83. United Rentals, Inc. has a 12 month low of $681.98 and a 12 month high of $1,021.47.
United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $8.86 earnings per share. On average, equities analysts expect that United Rentals, Inc. will post 47.07 EPS for the current year.
United Rentals Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s payout ratio is currently 20.10%.
United Rentals announced that its board has initiated a share repurchase plan on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other United Rentals news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at $1,823,708.90. The trade was a 22.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 26,088 shares of company stock valued at $25,628,877. Corporate insiders own 0.47% of the company’s stock.
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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