Prudential PLC Sells 6,377 Shares of United Rentals, Inc. $URI

Prudential PLC decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 20.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,473 shares of the construction company’s stock after selling 6,377 shares during the period. Prudential PLC’s holdings in United Rentals were worth $24,318,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Woodline Partners LP boosted its holdings in United Rentals by 40.0% in the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after buying an additional 1,577 shares during the period. Allworth Financial LP raised its holdings in United Rentals by 35.4% during the second quarter. Allworth Financial LP now owns 1,032 shares of the construction company’s stock valued at $777,000 after acquiring an additional 270 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of United Rentals by 5.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,108 shares of the construction company’s stock valued at $23,437,000 after acquiring an additional 1,558 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of United Rentals by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 60,863 shares of the construction company’s stock valued at $45,854,000 after acquiring an additional 782 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of United Rentals by 3.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,846 shares of the construction company’s stock worth $7,418,000 after acquiring an additional 308 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Insider Transactions at United Rentals

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the company’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 transaction of $1,969,938.60. Following the sale, the executive vice president directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William E. Grace sold 1,498 shares of the firm’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 completion of the sale, 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. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

URI has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Truist Financial set a $972.00 price objective on shares of United Rentals in a report on Friday, January 30th. KeyCorp set a $950.00 price objective on shares of United Rentals in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered their target price on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Finally, UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a research report on Sunday, January 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $925.59.

United Rentals Trading Up 0.3%

URI stock opened at $736.27 on Friday. The firm has a fifty day moving average price of $867.74 and a 200 day moving average price of $881.40. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The firm has a market cap of $46.39 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94.

United Rentals (NYSE:URI) last released 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 business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $11.59 EPS. United Rentals’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals announced 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s payout ratio is 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.