Harvest Portfolios Group Inc. Acquires 748 Shares of United Rentals, Inc. $URI

Harvest Portfolios Group Inc. raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 32.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,074 shares of the construction company’s stock after buying an additional 748 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in United Rentals were worth $2,488,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in URI. Woodline Partners LP raised its position in shares of 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 acquiring an additional 1,577 shares in the last quarter. Sei Investments Co. raised its position in shares of United Rentals by 24.7% in the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock worth $20,444,000 after acquiring an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of United Rentals by 43.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after acquiring an additional 17,030 shares in the last quarter. HUB Investment Partners LLC raised its position in shares of United Rentals by 11.3% in the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after acquiring an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,277 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on URI. JPMorgan Chase & Co. increased their target price on United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Weiss Ratings raised United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Royal Bank Of Canada upped their price target on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Robert W. Baird upped their price target on United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Sanford C. Bernstein set a $903.00 price target on United Rentals and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

United Rentals Stock Performance

Shares of URI opened at $934.96 on Thursday. The business’s fifty day simple moving average is $824.70 and its two-hundred day simple moving average is $840.16. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12 month low of $681.98 and a 12 month high of $1,021.47. The company has a market cap of $58.57 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.47 and a beta of 1.83.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the business posted $8.86 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

United Rentals declared that its board has authorized a stock repurchase plan on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by company insiders.

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.