Mission Wealth Management LP Decreases Stake in United Rentals, Inc. $URI

Mission Wealth Management LP lowered its position in United Rentals, Inc. (NYSE:URI) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,068 shares of the construction company’s stock after selling 674 shares during the quarter. Mission Wealth Management LP’s holdings in United Rentals were worth $5,720,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in URI. Gleason Group Inc. lifted its position in shares of United Rentals by 4.3% during the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after buying an additional 11 shares during the last quarter. Bridgewater Advisors Inc. lifted its position in shares of United Rentals by 1.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after buying an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after buying an additional 11 shares during the last quarter. Howard Capital Management Inc. lifted its position in shares of United Rentals by 3.1% during the 3rd quarter. Howard Capital Management Inc. now owns 395 shares of the construction company’s stock worth $377,000 after buying an additional 12 shares during the last quarter. Finally, Fearless Solutions LLC dba Best Invest lifted its position in shares of United Rentals by 2.2% during the 4th quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company’s stock worth $448,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 0.0%

URI stock opened at $961.22 on Monday. The company has a fifty day moving average price of $818.01 and a 200 day moving average price of $838.75. United Rentals, Inc. has a 12 month low of $681.98 and a 12 month high of $1,021.47. The company has a market cap of $60.22 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.53 and a beta of 1.83. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74.

United Rentals (NYSE:URI) last released 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). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter last year, the company earned $8.86 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be paid 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 declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on URI shares. 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. Wells Fargo & Company boosted their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. KeyCorp boosted their price objective on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $996.94.

Insider Activity

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by corporate insiders.

United Rentals 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.