United Rentals, Inc. $URI Position Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in United Rentals, Inc. (NYSE:URI) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,757 shares of the construction company’s stock after selling 1,047 shares during the quarter. PNC Financial Services Group Inc. owned 0.09% of United Rentals worth $47,553,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC acquired a new position in shares of United Rentals during the fourth quarter valued at $27,000. Abich Financial Wealth Management LLC acquired a new stake in United Rentals in the third quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in United Rentals in the fourth quarter worth about $32,000. Laurel Wealth Advisors LLC bought a new position in United Rentals in the 4th quarter valued at about $32,000. Finally, Fortitude Family Office LLC grew its position in United Rentals by 121.1% in the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of NYSE URI opened at $931.17 on Friday. United Rentals, Inc. has a twelve month low of $681.98 and a twelve month high of $1,021.47. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $827.82 and a two-hundred day moving average of $840.57. The company has a market capitalization of $58.34 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.49 and a beta of 1.83.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the firm earned $8.86 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a $1.97 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is currently 20.10%.

United Rentals announced that its board has initiated a stock buyback program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on URI shares. KeyCorp boosted their price target 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. Weiss Ratings upgraded shares of United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Robert W. Baird raised their price objective on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Evercore restated an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Finally, Barclays increased their price target on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

Insider Buying and Selling

In other news, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares of the company’s stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,088 shares of company stock worth $25,628,877 over the last quarter. 0.47% of the stock is currently owned by insiders.

United Rentals Company 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.