AustralianSuper Pty Ltd Sells 26,170 Shares of United Rentals, Inc. $URI

AustralianSuper Pty Ltd lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 64.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,557 shares of the construction company’s stock after selling 26,170 shares during the period. AustralianSuper Pty Ltd’s holdings in United Rentals were worth $13,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P acquired a new position in United Rentals in the second quarter valued at about $28,000. Salomon & Ludwin LLC increased its holdings in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the period. Abich Financial Wealth Management LLC bought a new position in United Rentals in the 3rd quarter valued at about $29,000. Cedar Mountain Advisors LLC acquired a new position in shares of United Rentals in the 3rd quarter valued at approximately $32,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of United Rentals during the 3rd quarter worth approximately $40,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction that occurred on 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 approximately $5,900,322.12. This represents a 25.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction on 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 sale, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by insiders.

United Rentals Stock Performance

NYSE URI opened at $834.70 on Wednesday. The company has a market capitalization of $52.59 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.33 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The stock has a fifty day simple moving average of $872.23 and a 200 day simple moving average of $887.77.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The business 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%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.59 earnings per share. Sell-side analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals announced that its board has authorized a stock repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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 paid a $1.97 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a yield of 0.9%. United Rentals’s dividend payout ratio is currently 20.37%.

Wall Street Analyst Weigh In

Several research analysts have commented on URI shares. Truist Financial set a $972.00 price objective on shares of United Rentals in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered their price target on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Royal Bank Of Canada reduced their price target on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Finally, Citigroup lowered their price objective on shares of 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. 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $925.59.

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.