Accent Capital Management LLC Increases Holdings in United Rentals, Inc. $URI

Accent Capital Management LLC increased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 542.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,620 shares of the construction company’s stock after purchasing an additional 2,212 shares during the quarter. United Rentals makes up 1.0% of Accent Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Accent Capital Management LLC’s holdings in United Rentals were worth $2,501,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC grew its holdings in United Rentals by 4.3% during the 3rd quarter. Arete Wealth Advisors LLC now owns 557 shares of the construction company’s stock valued at $531,000 after buying an additional 23 shares in the last quarter. Aprio Wealth Management LLC purchased a new position in United Rentals during the third quarter valued at $231,000. 49 Wealth Management LLC purchased a new position in United Rentals during the third quarter valued at $208,000. Aviso Financial Inc. bought a new stake in United Rentals in the 3rd quarter valued at $297,000. Finally, American Century Companies Inc. lifted its stake in United Rentals by 25.9% in the 3rd quarter. American Century Companies Inc. now owns 106,124 shares of the construction company’s stock worth $101,313,000 after purchasing an additional 21,826 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of NYSE:URI opened at $837.85 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The company has a market capitalization of $52.78 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.36 and a beta of 1.70. The firm’s 50-day moving average is $871.81 and its 200 day moving average is $889.32.

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

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a $1.97 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 0.9%. United Rentals’s dividend payout ratio is currently 20.37%.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on URI. Wells Fargo & Company raised their price objective on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on 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. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective on the stock in a research note on Sunday, January 4th. Truist Financial set a $972.00 price objective on United Rentals in a report on Friday, January 30th. Finally, Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a report on Friday, January 30th. Two equities research 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 given a Sell rating to the stock. According to MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $925.59.

Insiders Place Their Bets

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. Company insiders own 0.53% of the company’s stock.

United Rentals 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.