Tortoise Investment Management LLC Makes New $57,000 Investment in United Rentals, Inc. (NYSE:URI)

Tortoise Investment Management LLC acquired a new position in United Rentals, Inc. (NYSE:URIFree Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 100 shares of the construction company’s stock, valued at approximately $57,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of United Rentals by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock valued at $9,588,000 after buying an additional 1,304 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of United Rentals during the 4th quarter worth about $2,351,000. Verdence Capital Advisors LLC bought a new position in shares of United Rentals in the fourth quarter valued at approximately $257,000. Graybill Wealth Management LTD. lifted its position in shares of United Rentals by 0.6% during the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock worth $4,218,000 after purchasing an additional 58 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in United Rentals by 55.5% during the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock worth $3,677,000 after acquiring an additional 2,289 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of URI stock traded up $4.65 on Friday, hitting $685.79. The company’s stock had a trading volume of 362,951 shares, compared to its average volume of 544,109. The company has a market capitalization of $45.67 billion, a PE ratio of 18.58, a PEG ratio of 2.22 and a beta of 1.82. United Rentals, Inc. has a fifty-two week low of $330.30 and a fifty-two week high of $732.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The stock’s 50 day moving average is $684.22 and its 200-day moving average is $605.78.

United Rentals (NYSE:URIGet Free Report) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.95 earnings per share. Equities research analysts expect that United Rentals, Inc. will post 43.61 earnings per share for the current fiscal year.

United Rentals announced that its board has approved a stock buyback plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.95%. The ex-dividend date is Tuesday, May 7th. United Rentals’s payout ratio is presently 17.66%.

Insiders Place Their Bets

In other news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Evercore ISI raised their price objective on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Robert W. Baird upped their price target on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Stifel Nicolaus increased their target price on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, The Goldman Sachs Group lifted their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, United Rentals has an average rating of “Hold” and an average price target of $600.79.

Check Out Our Latest Report on URI

About United Rentals

(Free Report)

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.

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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