Raiffeisen Bank International AG Buys 8,897 Shares of United Rentals, Inc. $URI

Raiffeisen Bank International AG grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 289.3% during the third quarter, HoldingsChannel reports. The firm owned 11,972 shares of the construction company’s stock after purchasing an additional 8,897 shares during the quarter. Raiffeisen Bank International AG’s holdings in United Rentals were worth $11,300,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on URI shares. KeyCorp set a $950.00 price target on United Rentals in a report on Friday, January 30th. JPMorgan Chase & Co. reduced their price objective on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Truist Financial set a $972.00 target price on shares of United Rentals in a research note on Friday, January 30th. Citigroup lowered their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada reduced their target price on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Stock Performance

NYSE:URI opened at $908.05 on Friday. The stock has a 50-day moving average price of $865.87 and a 200 day moving average price of $889.42. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The stock has a market capitalization of $57.21 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.43 and a beta of 1.70.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate 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 was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $11.59 EPS. Equities research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

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

United Rentals declared that its board has authorized a stock buyback plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction 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 completion of the transaction, the executive vice president directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.53% of the company’s stock.

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.