Wealth Alliance Reduces Stock Position in United Rentals, Inc. (NYSE:URI)

Wealth Alliance lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 63.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 528 shares of the construction company’s stock after selling 911 shares during the period. Wealth Alliance’s holdings in United Rentals were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of United Rentals by 2.3% during the first quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after acquiring an additional 186,931 shares in the last quarter. Morgan Stanley lifted its position in shares of United Rentals by 10.8% during the fourth quarter. Morgan Stanley now owns 1,756,009 shares of the construction company’s stock worth $624,121,000 after acquiring an additional 170,958 shares in the last quarter. Norges Bank purchased a new stake in shares of United Rentals during the fourth quarter worth $586,415,000. Geode Capital Management LLC lifted its position in shares of United Rentals by 2.8% during the first quarter. Geode Capital Management LLC now owns 1,441,997 shares of the construction company’s stock worth $569,394,000 after acquiring an additional 39,917 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of United Rentals by 104,089.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock worth $476,961,000 after acquiring an additional 1,340,676 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 0.5 %

URI opened at $632.88 on Friday. The stock has a market cap of $42.51 billion, a PE ratio of 17.90, a P/E/G ratio of 2.21 and a beta of 1.84. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37. The business’s fifty day simple moving average is $680.37 and its 200 day simple moving average is $569.06.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the firm earned $9.74 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, research analysts expect that United Rentals, Inc. will post 43.13 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, February 13th. United Rentals’s dividend payout ratio (DPR) is 18.44%.

United Rentals announced that its board has initiated a stock buyback program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on URI shares. Truist Financial started coverage on United Rentals in a research report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price objective on the stock. BNP Paribas reiterated an “underperform” rating and issued a $485.00 price objective on shares of United Rentals in a research report on Friday, January 5th. Wells Fargo & Company increased their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. The Goldman Sachs Group increased their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird increased their price objective on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and a consensus price target of $589.21.

Insider Activity

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

About United Rentals

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.