United Rentals, Inc. $URI Shares Sold by Comerica Bank

Comerica Bank cut its stake in United Rentals, Inc. (NYSE:URI) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,252 shares of the construction company’s stock after selling 881 shares during the period. Comerica Bank’s holdings in United Rentals were worth $12,344,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of URI. Capital International Investors boosted its position in shares of United Rentals by 22.8% in the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after acquiring an additional 631,484 shares during the last quarter. TD Asset Management Inc boosted its position 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 acquiring an additional 193,416 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position 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 acquiring an additional 191,162 shares during the last quarter. Capital World Investors boosted its position in shares of United Rentals by 6.7% in the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after acquiring an additional 168,685 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of United Rentals by 3,094.3% in the third quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company’s stock worth $148,233,000 after acquiring an additional 150,412 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In other news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer owned 99,980 shares in the company, valued at $98,478,300.40. This represents a 18.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,076 shares of company stock valued at $28,783,569. 0.47% of the stock is currently owned by corporate insiders.

United Rentals Trading Up 0.4%

URI opened at $963.67 on Wednesday. The firm has a market capitalization of $60.37 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.53 and a beta of 1.68. The firm’s 50 day moving average is $799.23 and its 200-day moving average is $840.51. United Rentals, Inc. has a 52-week low of $611.93 and a 52-week high of $1,021.47. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.86 EPS. Analysts expect that United Rentals, Inc. will post 46.87 EPS for the current fiscal year.

United Rentals announced that its board has authorized a share repurchase program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the construction company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are usually a sign 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. Stockholders of record on Wednesday, May 13th will be paid a dividend of $1.97 per share. The ex-dividend date is Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

Analyst Upgrades and Downgrades

URI has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a report on Monday, April 20th. Robert W. Baird raised their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an “outperform” rating in a report on Thursday, April 9th. Citigroup raised their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $986.35.

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.