Advisors Capital Management LLC Has $30.31 Million Stock Position in United Rentals, Inc. $URI

Advisors Capital Management LLC lessened its holdings in shares of United Rentals, Inc. (NYSE:URI) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,749 shares of the construction company’s stock after selling 2,035 shares during the quarter. Advisors Capital Management LLC’s holdings in United Rentals were worth $30,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optas LLC increased its holdings in shares of United Rentals by 0.9% during the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after acquiring an additional 10 shares during the last quarter. CreativeOne Wealth LLC boosted its position in United Rentals by 0.5% during the second quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock worth $1,720,000 after purchasing an additional 11 shares during the period. Great Valley Advisor Group Inc. increased its holdings in shares of United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after purchasing an additional 11 shares during the last quarter. OFI Invest Asset Management raised its position in shares of United Rentals by 6.7% in the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock valued at $167,000 after purchasing an additional 11 shares during the period. Finally, Bank of Jackson Hole Trust lifted its stake in shares of United Rentals by 12.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock worth $84,000 after buying an additional 12 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 0.6%

Shares of URI stock opened at $864.09 on Wednesday. The stock has a market cap of $54.44 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.39 and a beta of 1.70. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year 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 has a 50 day simple moving average of $861.66 and a 200 day simple moving average of $889.22.

United Rentals (NYSE:URI) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $11.59 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be given a dividend of $1.97 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 11th. United Rentals’s dividend payout ratio (DPR) is currently 20.37%.

Insider Transactions at United Rentals

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial set a $972.00 price target on shares of United Rentals in a research note on Friday, January 30th. Citigroup reduced their price objective on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Robert W. Baird set a $970.00 target price on United Rentals in a research note on Friday, January 30th. KeyCorp set a $950.00 price target on United Rentals in a report on Friday, January 30th. Finally, Royal Bank Of Canada decreased their price objective on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and an average target price of $925.59.

About United Rentals

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.