Picton Mahoney Asset Management Sells 4,553 Shares of United Rentals, Inc. (NYSE:URI)

Picton Mahoney Asset Management decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 13.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,177 shares of the construction company’s stock after selling 4,553 shares during the period. Picton Mahoney Asset Management’s holdings in United Rentals were worth $17,304,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Gryphon Financial Partners LLC bought a new position in shares of United Rentals in the 4th quarter valued at about $281,000. Patrick M Sweeney & Associates Inc. bought a new position in United Rentals in the fourth quarter valued at approximately $689,000. Peddock Capital Advisors LLC increased its position in shares of United Rentals by 24.9% during the 4th quarter. Peddock Capital Advisors LLC now owns 927 shares of the construction company’s stock worth $532,000 after purchasing an additional 185 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of United Rentals by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,051 shares of the construction company’s stock worth $239,719,000 after purchasing an additional 6,655 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of United Rentals by 10.6% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 615 shares of the construction company’s stock valued at $353,000 after buying an additional 59 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on URI shares. Oppenheimer restated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Truist Financial boosted their price objective on shares of United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Morgan Stanley initiated coverage on shares of United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 target price for the company. Wells Fargo & Company boosted their price target on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Evercore ISI upped their price objective on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and an average target price of $600.79.

United Rentals Stock Performance

Shares of NYSE URI traded down $8.46 during trading hours on Tuesday, reaching $674.88. 437,219 shares of the stock were exchanged, compared to its average volume of 584,083. The firm has a market capitalization of $44.94 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.17 and a beta of 1.82. The stock’s fifty day simple moving average is $683.58 and its 200 day simple moving average is $592.43. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. United Rentals, Inc. has a 52 week low of $325.91 and a 52 week high of $732.37.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $7.95 EPS. Sell-side analysts predict that United Rentals, Inc. will post 43.61 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, May 7th. United Rentals’s dividend payout ratio is currently 17.66%.

United Rentals announced that its board has initiated a stock buyback program on Wednesday, January 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

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 value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO William E. Grace sold 775 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. Insiders have sold a total of 9,713 shares of company stock worth $6,747,384 in the last quarter. Corporate insiders own 0.49% of the company’s stock.

United Rentals 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.