United Rentals (NYSE:URI) SVP Joli Gross Sells 306 Shares

United Rentals, Inc. (NYSE:URI) SVP Joli Gross sold 306 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

United Rentals Price Performance

Shares of NYSE:URI opened at $959.42 on Tuesday. The company’s 50-day moving average is $797.24 and its 200 day moving average is $840.42. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The company has a market capitalization of $60.11 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $611.93 and a fifty-two week high of $1,021.47.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $8.86 earnings per share. On average, equities research analysts forecast that United Rentals, Inc. will post 46.68 earnings per share for the current year.

United Rentals declared that its board has approved a stock repurchase plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in outstanding 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 typically an indication that the company’s management believes its shares are undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a $1.97 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals’s dividend payout ratio is presently 20.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective for the company in a report on Sunday, January 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Monday, April 20th. Finally, KeyCorp boosted their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $986.35.

Institutional Investors Weigh In On United Rentals

Several hedge funds and other institutional investors have recently modified their holdings of URI. Norges Bank bought a new stake in shares of United Rentals during the fourth quarter valued at about $978,017,000. Capital International Investors increased its position in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after buying an additional 631,484 shares during the period. Corient Private Wealth LLC increased its position in shares of United Rentals by 1,667.4% during the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after buying an additional 324,503 shares during the period. TD Asset Management Inc increased its holdings in shares of United Rentals by 66.5% in the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after purchasing an additional 193,416 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock worth $159,184,000 after purchasing an additional 191,162 shares during the period. 96.26% of the stock is currently owned by institutional investors.

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.