Addenda Capital Inc. Acquires 2,939 Shares of United Rentals, Inc. $URI

Addenda Capital Inc. increased its holdings in United Rentals, Inc. (NYSE:URI) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,739 shares of the construction company’s stock after buying an additional 2,939 shares during the period. Addenda Capital Inc.’s holdings in United Rentals were worth $13,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Optas LLC boosted its stake in United Rentals by 0.9% during the third quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after buying an additional 10 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after buying an additional 11 shares in the last quarter. OFI Invest Asset Management boosted its stake in United Rentals by 6.7% during the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after buying an additional 11 shares in the last quarter. Gleason Group Inc. boosted its stake in United Rentals by 4.3% during the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after buying an additional 11 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its stake in United Rentals by 2.7% during the third quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company’s stock worth $430,000 after buying an additional 12 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

United Rentals stock opened at $761.88 on Thursday. The stock has a 50-day simple moving average of $801.13 and a 200 day simple moving average of $853.48. 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 12-month low of $533.45 and a 12-month high of $1,021.47. The stock has a market capitalization of $47.91 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.18 and a beta of 1.68.

United Rentals (NYSE:URI) last posted 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 company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.United Rentals’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.59 earnings per share. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

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

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 11th. This is an increase from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio is presently 20.37%.

Insider Activity

In other news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 6,872 shares of the company’s stock, valued at $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Sanford C. Bernstein set a $965.00 price target on shares of United Rentals in a research note on Friday, January 30th. Royal Bank Of Canada cut their price objective on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Truist Financial set a $972.00 price objective on United Rentals in a report on Friday, January 30th. Finally, KeyCorp set a $950.00 price objective on United Rentals in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average 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.