HTLF Bank Makes New Investment in United Rentals, Inc. (NYSE:URI)

HTLF Bank bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,188 shares of the construction company’s stock, valued at approximately $681,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its position in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. OFI Invest Asset Management acquired a new position in United Rentals during the third quarter worth about $25,000. NBC Securities Inc. acquired a new position in United Rentals during the third quarter worth about $29,000. Arlington Trust Co LLC raised its position in United Rentals by 50.0% during the fourth quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after acquiring an additional 28 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in United Rentals during the third quarter worth about $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of United Rentals in a research report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price objective for the company. Robert W. Baird boosted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Barclays boosted their price objective on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Morgan Stanley assumed coverage on shares of United Rentals in a research report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. Three 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $589.21.

United Rentals Trading Down 0.7 %

NYSE URI opened at $628.34 on Friday. United Rentals, Inc. has a 12 month low of $325.15 and a 12 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 company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 2.19 and a beta of 1.84. The company’s fifty day moving average price is $679.93 and its two-hundred day moving average price is $570.39.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, beating 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 firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the firm posted $9.74 EPS. The firm’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 43.13 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $1.63 dividend. The ex-dividend date was Tuesday, February 13th. This is a positive change from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. United Rentals’s payout ratio is 18.44%.

United Rentals announced that its board has initiated a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO William E. Grace sold 775 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.

About United Rentals

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.