SIR Capital Management L.P. raised its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 220.6% during the fourth quarter, Holdings Channel reports. The firm owned 10,580 shares of the construction company’s stock after purchasing an additional 7,280 shares during the period. SIR Capital Management L.P.’s holdings in United Rentals were worth $8,563,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in URI. Norges Bank acquired a new position in shares of United Rentals in the 4th quarter valued at $978,017,000. Capital International Investors lifted its holdings in shares of United Rentals by 22.8% during 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 acquiring an additional 631,484 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of United Rentals by 66.5% during the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock valued at $462,485,000 after acquiring an additional 193,416 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after acquiring an additional 191,162 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of United Rentals by 6.7% during 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 acquiring an additional 168,685 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday. UBS Group lifted 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. Sanford C. Bernstein set a $903.00 target price on shares of United Rentals and gave the company an “outperform” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada lifted their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,045.81.
Insider Activity
In related news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on 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 sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. The trade was a 14.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 26,088 shares of company stock worth $25,628,877. Corporate insiders own 0.47% of the company’s stock.
United Rentals Stock Performance
United Rentals stock opened at $1,076.03 on Friday. United Rentals, Inc. has a 12-month low of $682.08 and a 12-month high of $1,106.88. The company has a market capitalization of $67.41 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 1.69 and a beta of 1.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The firm’s fifty day moving average price is $920.44 and its 200 day moving average price is $862.24.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly 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 $3.99 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the firm earned $8.86 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that United Rentals, Inc. will post 47.26 EPS for the current fiscal year.
United Rentals Announces Dividend
The company also recently declared 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 of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s payout ratio is 20.10%.
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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