United Rentals, Inc. $URI Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in United Rentals, Inc. (NYSE:URI) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,434 shares of the construction company’s stock after purchasing an additional 31,125 shares during the quarter. Victory Capital Management Inc. owned about 0.18% of United Rentals worth $108,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of United Rentals in the 2nd quarter worth approximately $776,102,000. JPMorgan Chase & Co. raised its holdings in United Rentals by 71.3% during the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Boston Partners lifted its position in United Rentals by 74.5% in the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after purchasing an additional 305,378 shares during the period. TD Asset Management Inc lifted its position in United Rentals by 66.5% in the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after purchasing an additional 193,416 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in United Rentals by 34,208.2% during the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock valued at $142,421,000 after purchasing an additional 188,487 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on URI. JPMorgan Chase & Co. dropped their price objective on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. KeyCorp set a $950.00 target price on United Rentals in a report on Friday, January 30th. Royal Bank Of Canada dropped their price target on shares of 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. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Finally, UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective on the stock in a research note on Sunday, January 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $925.59.

United Rentals Price Performance

NYSE URI opened at $851.43 on Thursday. 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 1 year low of $525.91 and a 1 year high of $1,021.47. The company has a market cap of $53.64 billion, a PE ratio of 22.01, a PEG ratio of 1.35 and a beta of 1.66. The stock’s 50-day moving average price is $872.77 and its two-hundred day moving average price is $887.52.

United Rentals (NYSE:URI) last released its 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). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business earned $11.59 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 0.9%. 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 repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at United Rentals

In other news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 7,458 shares in the company, 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 at this link. Also, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction 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 transaction, 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 SEC filing for this sale provides additional information. 0.53% of the stock is 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.