Federated Hermes Inc. Reduces Holdings in United Rentals, Inc. (NYSE:URI)

Federated Hermes Inc. decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 42.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,548 shares of the construction company’s stock after selling 16,625 shares during the quarter. Federated Hermes Inc.’s holdings in United Rentals were worth $12,929,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in URI. OFI Invest Asset Management acquired a new stake in shares of United Rentals during the third quarter worth about $25,000. AdvisorNet Financial Inc lifted its position in United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. NBC Securities Inc. acquired a new stake in United Rentals in the third quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in United Rentals in the third quarter valued at about $40,000. Finally, Arlington Trust Co LLC lifted its position in United Rentals by 50.0% in the fourth quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock valued at $48,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on URI. Morgan Stanley began coverage on shares of United Rentals in a research report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. BNP Paribas restated an “underperform” rating and issued a $485.00 price objective on shares of United Rentals in a research report on Friday, January 5th. Wells Fargo & Company lifted their price target on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Robert W. Baird lifted their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, United Rentals presently has an average rating of “Hold” and an average price target of $589.21.

United Rentals Trading Up 5.2 %

Shares of URI opened at $661.99 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $679.75 and a 200-day simple moving average of $575.51. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37. The stock has a market cap of $44.47 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the company posted $9.74 EPS. The company’s revenue was up 13.1% on a year-over-year basis. Equities analysts forecast that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals announced that its board has approved a stock buyback program on Wednesday, January 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.49% of the company’s stock.

About United Rentals

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.