United Rentals, Inc. (NYSE:URI) Shares Acquired by Spire Wealth Management

Spire Wealth Management lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 336.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,648 shares of the construction company’s stock after buying an additional 2,813 shares during the period. Spire Wealth Management’s holdings in United Rentals were worth $2,087,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in shares of United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after buying an additional 1,041,281 shares during the last quarter. Invesco Ltd. grew its position in shares of United Rentals by 19.1% during the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after acquiring an additional 149,838 shares during the period. Northern Trust Corp increased its stake in shares of United Rentals by 1.5% in the 3rd quarter. Northern Trust Corp now owns 680,217 shares of the construction company’s stock valued at $302,404,000 after purchasing an additional 10,018 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after purchasing an additional 72,066 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in United Rentals by 9.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,872 shares of the construction company’s stock valued at $173,770,000 after purchasing an additional 35,295 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on URI shares. Truist Financial upped their target price on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Robert W. Baird boosted their target price 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. Stifel Nicolaus upped their price target on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group lifted their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Evercore ISI raised their target price on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $600.79.

Insider Activity at United Rentals

In related news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,713 shares of company stock worth $6,747,384. Company insiders own 0.49% of the company’s stock.

United Rentals Trading Up 0.4 %

Shares of NYSE URI traded up $2.71 during trading on Tuesday, reaching $684.42. The stock had a trading volume of 22,846 shares, compared to its average volume of 579,265. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The company has a market cap of $45.58 billion, a P/E ratio of 18.51, a PEG ratio of 2.17 and a beta of 1.82. United Rentals, Inc. has a fifty-two week low of $325.91 and a fifty-two week high of $732.37. The business’s 50-day moving average price is $683.61 and its 200-day moving average price is $590.53.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. United Rentals’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $7.95 EPS. On average, equities research analysts predict that United Rentals, Inc. will post 43.61 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Tuesday, May 7th. United Rentals’s dividend payout ratio is currently 17.66%.

United Rentals declared that its board has initiated a share repurchase 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 buy up to 3.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.