Envestnet Asset Management Inc. Acquires 7,030 Shares of United Rentals, Inc. $URI

Envestnet Asset Management Inc. increased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,156 shares of the construction company’s stock after purchasing an additional 7,030 shares during the period. Envestnet Asset Management Inc. owned approximately 0.26% of United Rentals worth $157,668,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in URI. Norges Bank bought a new position in United Rentals during the second quarter worth $776,102,000. JPMorgan Chase & Co. raised its holdings in shares of United Rentals by 71.3% during the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after purchasing an additional 780,322 shares during the period. Boston Partners boosted its position in shares of United Rentals by 74.5% during the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after purchasing an additional 305,378 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of United Rentals by 34,208.2% in the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock valued at $142,421,000 after buying an additional 188,487 shares during the period. Finally, Bessemer Group Inc. increased its position in United Rentals by 4,436.8% in the 2nd quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock valued at $123,221,000 after buying an additional 159,947 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on URI shares. Sanford C. Bernstein set a $965.00 price target on United Rentals in a report on Friday, January 30th. Barclays cut their target price on United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a report on Monday, October 20th. JPMorgan Chase & Co. decreased their price target on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. KeyCorp set a $950.00 price objective on shares of United Rentals in a report on Friday, January 30th. Finally, UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective for the company in a report on Sunday, January 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the sale, the executive vice president directly owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

United Rentals Price Performance

URI opened at $901.15 on Friday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. The company has a market capitalization of $56.77 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.36 and a beta of 1.70. The firm’s fifty day moving average price is $851.62 and its two-hundred day moving average price is $888.44.

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

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a $1.97 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 18.51%.

United Rentals announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

About United Rentals

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.