United Rentals, Inc. $URI Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its stake in United Rentals, Inc. (NYSE:URI) by 13.3% in the third quarter, HoldingsChannel.com reports. The fund owned 30,445 shares of the construction company’s stock after buying an additional 3,581 shares during the quarter. Picton Mahoney Asset Management’s holdings in United Rentals were worth $29,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Loomis Sayles & Co. L P bought a new stake in shares of United Rentals in the 2nd quarter worth approximately $28,000. Salomon & Ludwin LLC increased its position in United Rentals by 650.0% in the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares during the period. Abich Financial Wealth Management LLC bought a new stake in United Rentals in the third quarter valued at $29,000. Cedar Mountain Advisors LLC acquired a new position in shares of United Rentals during the third quarter valued at $32,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of United Rentals during the third quarter worth about $40,000. 96.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Truist Financial set a $972.00 price target on United Rentals in a report on Friday, January 30th. Robert W. Baird set a $970.00 price objective on United Rentals in a report on Friday, January 30th. Royal Bank Of Canada lowered their target price on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Finally, Wells Fargo & Company boosted their price target on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Price Performance

Shares of NYSE:URI opened at $834.70 on Wednesday. The stock has a market cap of $52.59 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.33 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The stock’s 50 day moving average price is $872.23 and its 200 day moving average price is $887.77.

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

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were issued a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, February 11th. 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 yield of 0.9%. United Rentals’s dividend payout ratio is presently 20.37%.

United Rentals announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

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

United Rentals Company 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.