BTC Capital Management Inc. Acquires 995 Shares of United Rentals, Inc. $URI

BTC Capital Management Inc. grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,078 shares of the construction company’s stock after acquiring an additional 995 shares during the quarter. BTC Capital Management Inc.’s holdings in United Rentals were worth $2,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in URI. Hilton Head Capital Partners LLC boosted its stake in shares of United Rentals by 123.8% in the 1st quarter. Hilton Head Capital Partners LLC now owns 94 shares of the construction company’s stock valued at $69,000 after purchasing an additional 52 shares in the last quarter. Blue Trust Inc. increased its position in United Rentals by 139.4% during the 1st quarter. Blue Trust Inc. now owns 802 shares of the construction company’s stock worth $584,000 after purchasing an additional 467 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in United Rentals by 5.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 913 shares of the construction company’s stock worth $665,000 after purchasing an additional 50 shares in the last quarter. OP Asset Management Ltd bought a new position in United Rentals in the 1st quarter valued at approximately $9,124,000. Finally, Provenance Wealth Advisors LLC lifted its stake in United Rentals by 3,333.3% in the 1st quarter. Provenance Wealth Advisors LLC now owns 206 shares of the construction company’s stock valued at $150,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In related news, VP Andrew B. Limoges sold 548 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 26,088 shares of company stock worth $25,628,877. Company insiders own 0.47% of the company’s stock.

United Rentals Stock Up 1.8%

NYSE:URI opened at $1,082.52 on Thursday. The firm’s 50 day simple moving average is $972.21 and its 200 day simple moving average is $877.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,106.88. The company has a market cap of $67.82 billion, a PE ratio of 27.62, a P/E/G ratio of 1.68 and a beta of 1.81.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $8.86 earnings per share. On average, research analysts anticipate that United Rentals, Inc. will post 47.26 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s payout ratio is currently 20.10%.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of research reports. Royal Bank Of Canada boosted their target price on shares of 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. Truist Financial set a $1,209.00 price target on United Rentals in a research note on Friday, April 24th. Weiss Ratings raised United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Evercore reissued an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Finally, KeyCorp boosted their price objective on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,045.81.

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.