United Rentals (NYSE:URI) Issues Earnings Results

United Rentals (NYSE:URIGet Rating) posted its earnings results on Wednesday. The construction company reported $5.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.31 by $0.42, MarketWatch Earnings reports. United Rentals had a net margin of 15.22% and a return on equity of 32.08%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the firm posted $3.45 EPS. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year.

Shares of URI stock opened at $316.52 on Friday. The firm has a 50-day moving average of $330.97 and a 200-day moving average of $339.26. The company has a market cap of $22.85 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.66 and a beta of 1.84. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.83 and a quick ratio of 0.76. United Rentals has a one year low of $285.59 and a one year high of $414.99.

In related news, COO Dale A. Asplund sold 6,575 shares of the stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $318.58, for a total transaction of $2,094,663.50. Following the completion of the transaction, the chief operating officer now owns 26,666 shares in the company, valued at $8,495,254.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Craig Adam Pintoff sold 1,652 shares of the stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $323.41, for a total transaction of $534,273.32. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lombard Odier Asset Management USA Corp bought a new position in United Rentals during the fourth quarter worth about $714,000. MML Investors Services LLC boosted its position in United Rentals by 25.7% during the fourth quarter. MML Investors Services LLC now owns 3,113 shares of the construction company’s stock worth $1,034,000 after purchasing an additional 637 shares during the period. Belpointe Asset Management LLC boosted its position in United Rentals by 15.3% during the fourth quarter. Belpointe Asset Management LLC now owns 647 shares of the construction company’s stock worth $215,000 after purchasing an additional 86 shares during the period. Metropolitan Life Insurance Co NY boosted its position in United Rentals by 8.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,352 shares of the construction company’s stock worth $3,108,000 after purchasing an additional 753 shares during the period. Finally, Penserra Capital Management LLC boosted its position in United Rentals by 23.4% during the fourth quarter. Penserra Capital Management LLC now owns 322 shares of the construction company’s stock worth $106,000 after purchasing an additional 61 shares during the period. Institutional investors own 89.82% of the company’s stock.

United Rentals announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of United Rentals from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of United Rentals from $421.00 to $396.00 in a research report on Friday. KeyCorp dropped their target price on shares of United Rentals from $455.00 to $420.00 and set an “overweight” rating on the stock in a research report on Friday, January 28th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $415.00 to $425.00 in a research report on Thursday, January 27th. Finally, Wells Fargo & Company started coverage on shares of United Rentals in a research report on Friday, March 11th. They set an “overweight” rating and a $425.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $380.62.

United Rentals Company Profile (Get Rating)

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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Earnings History for United Rentals (NYSE:URI)

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