Eukles Asset Management Reduces Position in United Rentals, Inc. (NYSE:URI)

Eukles Asset Management decreased its position in United Rentals, Inc. (NYSE:URI) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,830 shares of the construction company’s stock after selling 57 shares during the quarter. United Rentals makes up approximately 2.4% of Eukles Asset Management’s portfolio, making the stock its 9th largest holding. Eukles Asset Management’s holdings in United Rentals were worth $5,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in United Rentals by 6.4% during the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock worth $9,588,000 after acquiring an additional 1,304 shares during the period. Louisiana State Employees Retirement System acquired a new stake in United Rentals during the fourth quarter worth $2,351,000. Graybill Wealth Management LTD. boosted its stake in United Rentals by 0.6% during the third quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock worth $4,218,000 after buying an additional 58 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in United Rentals by 55.5% during the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock worth $3,677,000 after buying an additional 2,289 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in United Rentals during the fourth quarter worth $22,529,000. Institutional investors own 96.26% of the company’s stock.

Insider Activity

In other 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 value 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 approximately $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by insiders.

United Rentals Stock Down 1.0 %

NYSE:URI traded down $6.21 during trading hours on Friday, reaching $626.67. 271,412 shares of the stock were exchanged, compared to its average volume of 574,973. United Rentals, Inc. has a twelve month low of $325.15 and a twelve month high of $732.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The firm has a 50 day moving average of $680.37 and a 200 day moving average of $569.06. The stock has a market cap of $42.09 billion, a PE ratio of 17.82, a PEG ratio of 2.21 and a beta of 1.84.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, beating the consensus estimate of $10.85 by $0.41. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.74 EPS. On average, equities analysts expect that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals announced that its board has authorized a share repurchase plan on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management 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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, February 13th. This is an increase from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio is presently 18.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on URI shares. Robert W. Baird lifted their price target on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Truist Financial assumed coverage on United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price target for the company. BNP Paribas reaffirmed an “underperform” rating and issued a $485.00 price target on shares of United Rentals in a report on Friday, January 5th. Wells Fargo & Company upped their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Morgan Stanley assumed coverage on United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and a consensus price target of $589.21.

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.