Perigon Wealth Management LLC Boosts Stake in United Rentals, Inc. (NYSE:URI)

Perigon Wealth Management LLC grew its position in shares of United Rentals, Inc. (NYSE:URI) by 16.4% during the fourth quarter, Holdings Channel reports. The fund owned 632 shares of the construction company’s stock after purchasing an additional 89 shares during the period. Perigon Wealth Management LLC’s holdings in United Rentals were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in URI. AdvisorNet Financial Inc grew its stake in shares of United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of United Rentals in the 3rd quarter worth approximately $25,000. NBC Securities Inc. purchased a new stake in shares of United Rentals in the 3rd quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of United Rentals in the 3rd quarter worth approximately $31,000. Finally, Arlington Trust Co LLC grew its stake in shares of United Rentals by 50.0% in the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of United Rentals stock opened at $655.97 on Wednesday. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37. The stock’s fifty day moving average is $680.99 and its 200 day moving average is $568.14. The stock has a market cap of $44.06 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.31 and a beta of 1.84. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the firm earned $9.74 EPS. United Rentals’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts anticipate that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $1.63 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Tuesday, February 13th. United Rentals’s dividend payout ratio (DPR) is currently 18.44%.

United Rentals announced that its board has approved a share buyback plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have commented on URI. Wells Fargo & Company increased their target price on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. The Goldman Sachs Group increased their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial began coverage on United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 target price on the stock. Robert W. Baird increased their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Finally, BNP Paribas reiterated an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $589.21.

Insider Buying and Selling

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by insiders.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.