Ieq Capital LLC Grows Stake in United Rentals, Inc. (NYSE:URI)

Ieq Capital LLC grew its position in United Rentals, Inc. (NYSE:URIFree Report) by 14.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,127 shares of the construction company’s stock after buying an additional 385 shares during the quarter. Ieq Capital LLC’s holdings in United Rentals were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in United Rentals during the third quarter worth $25,000. AdvisorNet Financial Inc grew its stake in shares of United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares during the period. NBC Securities Inc. acquired a new stake in United Rentals in the third quarter valued at approximately $29,000. Larson Financial Group LLC raised its position in shares of United Rentals by 1,525.0% during the 4th quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock worth $37,000 after purchasing an additional 61 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in United Rentals in the 3rd quarter valued at $40,000. Institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In related news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William E. Grace sold 775 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was 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 approximately $4,145,485.26. The disclosure for this sale can be found here. In the last three months, insiders sold 9,713 shares of company stock valued at $6,747,384. Company insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on URI. Truist Financial upped their price target on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Stifel Nicolaus lifted their price target on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Evercore ISI boosted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $600.79.

Get Our Latest Stock Analysis on URI

United Rentals Price Performance

Shares of URI opened at $696.67 on Tuesday. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.27 and a beta of 1.82. United Rentals, Inc. has a 52 week low of $326.41 and a 52 week high of $732.37. The stock has a 50 day moving average of $682.99 and a 200-day moving average of $600.48. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URIGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $7.95 EPS. As a group, analysts forecast that United Rentals, Inc. will post 43.61 EPS for the current year.

United Rentals announced that its board has approved a share repurchase program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

United Rentals Dividend Announcement

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

About United Rentals

(Free Report)

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.

See Also

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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