United Rentals, Inc. $URI Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in United Rentals, Inc. (NYSE:URI) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 59,804 shares of the construction company’s stock after selling 1,059 shares during the quarter. PNC Financial Services Group Inc.’s holdings in United Rentals were worth $57,092,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Berkshire Asset Management LLC PA purchased a new position in United Rentals in the third quarter valued at approximately $204,000. Columbia Bank boosted its holdings in shares of United Rentals by 1.5% in the 3rd quarter. Columbia Bank now owns 3,497 shares of the construction company’s stock valued at $3,567,000 after buying an additional 52 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of United Rentals in the 3rd quarter valued at $29,000. Assetmark Inc. raised its stake in United Rentals by 332.6% during the 3rd quarter. Assetmark Inc. now owns 5,659 shares of the construction company’s stock worth $5,403,000 after acquiring an additional 4,351 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in United Rentals by 3,094.3% in the third quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company’s stock valued at $148,233,000 after acquiring an additional 150,412 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the transaction, the executive vice president owned 7,458 shares in the company, valued at $5,900,322.12. The trade was a 25.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird set a $970.00 price objective on United Rentals in a report on Friday, January 30th. Barclays dropped their price target on United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. Truist Financial set a $972.00 price objective on United Rentals in a research note on Friday, January 30th. Citigroup cut their target price on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Finally, UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target for the company in a research report on Sunday, January 4th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $925.59.

United Rentals Trading Down 0.1%

NYSE:URI opened at $868.85 on Tuesday. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. The stock’s 50 day simple moving average is $860.16 and its 200-day simple moving average is $889.19. The firm has a market cap of $54.74 billion, a P/E ratio of 22.46, a PEG ratio of 1.39 and a beta of 1.70.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing the consensus estimate of $11.86 by ($0.77). The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.United Rentals’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $11.59 earnings per share. Equities analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals announced that its board has authorized a share buyback plan on Wednesday, January 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a $1.97 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. United Rentals’s payout ratio is presently 20.37%.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.