Advisors Asset Management Inc. Grows Stake in United Rentals, Inc. $URI

Advisors Asset Management Inc. increased its holdings in United Rentals, Inc. (NYSE:URI) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,630 shares of the construction company’s stock after purchasing an additional 719 shares during the period. Advisors Asset Management Inc.’s holdings in United Rentals were worth $11,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Woodline Partners LP lifted its holdings in shares of United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after buying an additional 1,577 shares in the last quarter. Blue Trust Inc. increased its holdings in United Rentals by 12.3% in the 2nd quarter. Blue Trust Inc. now owns 348 shares of the construction company’s stock valued at $262,000 after acquiring an additional 38 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in United Rentals in the 2nd quarter valued at $38,000. Apollon Wealth Management LLC lifted its stake in United Rentals by 26.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 1,837 shares of the construction company’s stock worth $1,384,000 after purchasing an additional 388 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of United Rentals by 6.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 534 shares of the construction company’s stock valued at $402,000 after purchasing an additional 31 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the transaction, the executive vice president owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This trade represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Barclays reduced their price objective on United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. Citigroup lowered their target price on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Finally, KeyCorp set a $950.00 price target on shares of United Rentals in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Stock Down 0.1%

Shares of NYSE:URI opened at $875.46 on Wednesday. The firm has a market capitalization of $55.15 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.70. The business has a 50 day simple moving average of $854.55 and a two-hundred day simple moving average of $889.65. 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.

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

United Rentals declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

United Rentals Increases Dividend

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

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.