Dakota Wealth Management Reduces Position in United Rentals, Inc. $URI

Dakota Wealth Management lowered its holdings in United Rentals, Inc. (NYSE:URI) by 29.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,272 shares of the construction company’s stock after selling 950 shares during the period. Dakota Wealth Management’s holdings in United Rentals were worth $2,169,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new position in shares of United Rentals during the 2nd quarter valued at approximately $28,000. Salomon & Ludwin LLC raised its holdings in United Rentals by 650.0% in the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in United Rentals during the 3rd quarter valued at $29,000. Cedar Mountain Advisors LLC bought a new position in United Rentals during the 3rd quarter valued at $32,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in United Rentals during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William E. Grace sold 1,498 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.53% of the company’s stock.

United Rentals Trading Down 4.7%

Shares of NYSE:URI opened at $854.70 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average price is $870.14 and its 200 day moving average price is $889.96. The company has a market cap of $53.85 billion, a PE ratio of 22.10, a P/E/G ratio of 1.44 and a beta of 1.70. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 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 analyst estimates 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 for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $11.59 EPS. Sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals declared that its board has initiated a stock repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 11th. This is an increase from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio (DPR) is presently 20.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a research note on Sunday, January 4th. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. KeyCorp set a $950.00 target price on United Rentals in a research report on Friday, January 30th. Truist Financial set a $972.00 price target on United Rentals in a report on Friday, January 30th. Finally, Robert W. Baird set a $970.00 price objective on United Rentals in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

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.