PGGM Investments Cuts Stock Position in United Rentals, Inc. (NYSE:URI)

PGGM Investments lessened its holdings in United Rentals, Inc. (NYSE:URI) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,559 shares of the construction company’s stock after selling 968 shares during the period. PGGM Investments’ holdings in United Rentals were worth $8,348,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of URI. OFI Invest Asset Management purchased a new stake in United Rentals in the 3rd quarter worth $25,000. AdvisorNet Financial Inc increased its stake in United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. NBC Securities Inc. purchased a new stake in United Rentals in the 3rd quarter worth $29,000. Larson Financial Group LLC grew its position in shares of United Rentals by 1,525.0% during the fourth quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock valued at $37,000 after purchasing an additional 61 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of United Rentals during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on URI shares. BNP Paribas restated an “underperform” rating and set a $485.00 price objective on shares of United Rentals in a research report on Friday, January 5th. Robert W. Baird raised their price objective on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. The Goldman Sachs Group raised their price objective on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial initiated coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price objective for the company. Finally, Stifel Nicolaus increased their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $600.57.

United Rentals Trading Down 0.0 %

NYSE URI traded down $0.12 during trading on Friday, hitting $690.80. The stock had a trading volume of 581,711 shares, compared to its average volume of 538,819. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.75 and a current ratio of 0.89. The stock has a market capitalization of $46.00 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 2.40 and a beta of 1.84. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37. The stock has a 50 day simple moving average of $681.18 and a 200 day simple moving average of $579.53.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the firm posted $7.95 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that United Rentals, Inc. will post 43.54 earnings per share for the current year.

United Rentals Dividend Announcement

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

United Rentals declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction that occurred on Thursday, February 15th. The shares were 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 accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

United Rentals Company Profile

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.