Ieq Capital LLC Acquires 385 Shares of United Rentals, Inc. (NYSE:URI)

Ieq Capital LLC boosted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 14.0% during the fourth quarter, Holdings Channel reports. The firm owned 3,127 shares of the construction company’s stock after acquiring 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 quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of URI. Envestnet Portfolio Solutions Inc. increased its position in United Rentals by 4.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,525 shares of the construction company’s stock valued at $874,000 after purchasing an additional 59 shares during the period. AlphaStar Capital Management LLC boosted its stake in shares of United Rentals by 17.9% during the 4th quarter. AlphaStar Capital Management LLC now owns 1,933 shares of the construction company’s stock valued at $1,108,000 after purchasing an additional 293 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in United Rentals by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock worth $714,578,000 after buying an additional 56,948 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in United Rentals by 3.5% in the fourth quarter. QRG Capital Management Inc. now owns 28,092 shares of the construction company’s stock worth $16,109,000 after buying an additional 942 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in United Rentals during the 4th quarter valued at approximately $1,021,000. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on URI shares. Wells Fargo & Company increased their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Robert W. Baird boosted their target price on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Truist Financial increased their price target on shares of United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Evercore ISI boosted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Barclays raised their target price on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, United Rentals has a consensus rating of “Hold” and an average target price of $600.79.

Insider Activity

In related news, 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 in the company, valued at $72,341,742. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Michael D. Durand sold 559 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction dated 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 transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Insiders have sold a total of 9,713 shares of company stock worth $6,747,384 over the last quarter. Insiders own 0.49% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $696.67 on Tuesday. United Rentals, Inc. has a 12-month low of $326.41 and a 12-month high of $732.37. The firm has a market capitalization of $46.39 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.82. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average of $682.99 and a 200 day moving average of $600.48.

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

United Rentals Dividend Announcement

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

United Rentals declared that its board has approved a share buyback program on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.