United Rentals, Inc. (NYSE:URI) Shares Sold by PGGM Investments

PGGM Investments reduced its stake in United Rentals, Inc. (NYSE:URI) by 6.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,559 shares of the construction company’s stock after selling 968 shares during the quarter. PGGM Investments’ holdings in United Rentals were worth $8,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its holdings in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after buying an additional 1,041,281 shares in the last quarter. Invesco Ltd. lifted its holdings in United Rentals by 19.1% during the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock worth $414,974,000 after buying an additional 149,838 shares in the last quarter. Northern Trust Corp increased its position in shares of United Rentals by 1.5% in the 3rd quarter. Northern Trust Corp now owns 680,217 shares of the construction company’s stock valued at $302,404,000 after purchasing an additional 10,018 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock valued at $284,061,000 after purchasing an additional 72,066 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of United Rentals by 9.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,872 shares of the construction company’s stock valued at $173,770,000 after purchasing an additional 35,295 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on URI. Truist Financial began coverage on shares of United Rentals in a research report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price objective on the stock. Robert W. Baird increased their price objective on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Morgan Stanley began coverage on shares of United Rentals in a research report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective on the stock. Barclays increased their price objective on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Finally, Stifel Nicolaus increased their price objective on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and a consensus target price of $600.57.

United Rentals Stock Performance

United Rentals stock traded down $0.12 during midday trading on Friday, hitting $690.80. 581,711 shares of the company’s stock were exchanged, compared to its average volume of 538,819. United Rentals, Inc. has a 12-month low of $325.15 and a 12-month high of $732.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.75 and a current ratio of 0.89. The stock has a market cap of $46.00 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.40 and a beta of 1.84. The firm’s 50 day simple moving average is $681.18 and its 200 day simple moving average is $579.53.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the firm posted $7.95 EPS. United Rentals’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that United Rentals, Inc. will post 43.54 EPS for the current year.

United Rentals announced that its board has approved a stock buyback program on Wednesday, January 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.