United Rentals, Inc. $URI Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,145 shares of the construction company’s stock after selling 992 shares during the period. United Rentals comprises approximately 1.1% of Central Bank & Trust Co.’s investment portfolio, making the stock its 26th largest holding. Central Bank & Trust Co.’s holdings in United Rentals were worth $7,401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Woodline Partners LP grew its position 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 valued at $3,458,000 after purchasing an additional 1,577 shares during the period. MAI Capital Management increased its stake in shares of United Rentals by 11.1% during the second quarter. MAI Capital Management now owns 1,488 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 149 shares in the last quarter. American Century Companies Inc. raised its position in shares of United Rentals by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 84,298 shares of the construction company’s stock worth $63,510,000 after purchasing an additional 14,223 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of United Rentals by 2.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 470,473 shares of the construction company’s stock worth $354,454,000 after purchasing an additional 9,602 shares during the last quarter. Finally, Titleist Asset Management LLC purchased a new position in United Rentals in the 2nd quarter valued at about $578,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the sale, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. This represents a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction on 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 approximately $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on URI shares. Truist Financial set a $972.00 price objective on United Rentals in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Wells Fargo & Company lifted their price target on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. KeyCorp set a $950.00 price target on United Rentals in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Stock Up 3.1%

Shares of NYSE URI opened at $732.28 on Tuesday. The stock has a market cap of $46.13 billion, a PE ratio of 18.93, a P/E/G ratio of 1.15 and a beta of 1.66. 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 50-day moving average of $845.83 and a 200 day moving average of $870.87.

United Rentals (NYSE:URI) last released its 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). The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $11.59 earnings per share. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals announced that its board has initiated a stock buyback program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 1.1%. United Rentals’s dividend payout ratio (DPR) is 20.37%.

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.