K.J. Harrison & Partners Inc Purchases New Holdings in United Rentals, Inc. (NYSE:URI)

K.J. Harrison & Partners Inc purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the construction company’s stock, valued at approximately $1,720,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Syon Capital LLC increased its position in shares of United Rentals by 39.4% in the fourth quarter. Syon Capital LLC now owns 1,029 shares of the construction company’s stock worth $590,000 after purchasing an additional 291 shares during the period. Bank of New Hampshire increased its holdings in United Rentals by 1.8% in the 4th quarter. Bank of New Hampshire now owns 3,477 shares of the construction company’s stock valued at $1,994,000 after buying an additional 60 shares during the period. Sycomore Asset Management raised its position in shares of United Rentals by 446.6% in the 4th quarter. Sycomore Asset Management now owns 1,984 shares of the construction company’s stock valued at $1,148,000 after buying an additional 1,621 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of United Rentals by 7.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,843 shares of the construction company’s stock worth $1,057,000 after acquiring an additional 131 shares during the period. Finally, Bfsg LLC boosted its position in shares of United Rentals by 15.8% during the 4th quarter. Bfsg LLC now owns 2,519 shares of the construction company’s stock worth $1,444,000 after acquiring an additional 343 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now 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 is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

URI has been the subject of several recent analyst reports. Evercore ISI upped their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Barclays lifted their target price on United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Robert W. Baird raised their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Morgan Stanley began coverage on shares of United Rentals in a report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and an average price target of $600.57.

United Rentals Trading Down 0.0 %

Shares of URI traded down $0.15 during mid-day trading on Friday, reaching $690.77. 581,706 shares of the company were exchanged, compared to its average volume of 588,042. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37. The business has a 50 day simple moving average of $681.18 and a two-hundred day simple moving average of $578.63. The stock has a market capitalization of $46.40 billion, a PE ratio of 18.71, a PEG ratio of 2.27 and a beta of 1.84.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.85%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the firm posted $7.95 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that United Rentals, Inc. will post 43.13 earnings per share for the current fiscal year.

United Rentals declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Tuesday, May 7th. United Rentals’s dividend payout ratio is 17.66%.

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.