Public Sector Pension Investment Board Has $148.23 Million Position in United Rentals, Inc. $URI

Public Sector Pension Investment Board raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 3,094.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,273 shares of the construction company’s stock after acquiring an additional 150,412 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.24% of United Rentals worth $148,233,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in URI. Salomon & Ludwin LLC lifted its holdings in United Rentals by 650.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in United Rentals during the third quarter worth about $32,000. Loomis Sayles & Co. L P acquired a new stake in shares of United Rentals during the second quarter worth approximately $28,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of United Rentals in the third quarter valued at approximately $40,000. Finally, Frazier Financial Advisors LLC raised its stake in shares of United Rentals by 250.0% in the third quarter. Frazier Financial Advisors LLC now owns 42 shares of the construction company’s stock valued at $40,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Down 0.5%

URI stock opened at $869.72 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The company has a market cap of $54.79 billion, a P/E ratio of 22.48, a PEG ratio of 1.40 and a beta of 1.70. The business has a fifty day moving average of $857.02 and a 200-day moving average of $889.39.

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

United Rentals declared that its board has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend is Wednesday, February 11th. United Rentals’s payout ratio is presently 20.37%.

Wall Street Analyst Weigh In

A number of research firms recently commented on URI. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. UBS Group raised 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. JPMorgan Chase & Co. decreased their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Truist Financial set a $972.00 target price on United Rentals in a research note on Friday, January 30th. Finally, Royal Bank Of Canada reduced 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $925.59.

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.