Northcape Capital Pty Ltd Trims Holdings in United Rentals, Inc. (NYSE:URI)

Northcape Capital Pty Ltd decreased its stake in shares of United Rentals, Inc. (NYSE:URI) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,537 shares of the construction company’s stock after selling 436 shares during the period. United Rentals comprises about 0.3% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 20th biggest holding. Northcape Capital Pty Ltd’s holdings in United Rentals were worth $2,602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of URI. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in United Rentals by 7,691.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,506 shares of the construction company’s stock worth $1,245,000 after purchasing an additional 3,461 shares during the period. Raymond James Trust N.A. grew its position in shares of United Rentals by 14.6% during the 1st quarter. Raymond James Trust N.A. now owns 2,296 shares of the construction company’s stock valued at $815,000 after buying an additional 293 shares during the last quarter. Cibc World Market Inc. grew its position in shares of United Rentals by 16.8% during the 1st quarter. Cibc World Market Inc. now owns 7,941 shares of the construction company’s stock valued at $2,821,000 after buying an additional 1,140 shares during the last quarter. Sei Investments Co. raised its stake in United Rentals by 50.1% during the first quarter. Sei Investments Co. now owns 1,914 shares of the construction company’s stock worth $678,000 after acquiring an additional 639 shares during the period. Finally, Prudential PLC bought a new position in United Rentals in the first quarter worth about $560,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on URI. Morgan Stanley initiated coverage on United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target on the stock. UBS Group lowered shares of United Rentals from a “buy” rating to a “neutral” rating and upped their price target for the stock from $504.00 to $525.00 in a research report on Tuesday, December 5th. KeyCorp downgraded shares of United Rentals from an “overweight” rating to a “sector weight” rating in a research report on Monday, December 4th. Wells Fargo & Company lifted their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Truist Financial assumed coverage on United Rentals in a report on Thursday, March 14th. They set a “buy” rating and a $793.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and a consensus target price of $572.20.

United Rentals Stock Down 0.0 %

Shares of URI traded down $0.23 during trading hours on Thursday, reaching $719.92. The company’s stock had a trading volume of 120,954 shares, compared to its average volume of 589,241. The company has a 50 day moving average of $660.00 and a two-hundred day moving average of $543.15. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. The firm has a market cap of $48.37 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.63 and a beta of 1.84. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm earned $9.74 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that United Rentals, Inc. will post 42.9 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a dividend of $1.63 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.91%. United Rentals’s dividend payout ratio is currently 18.44%.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the 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 transaction, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

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.