Bessemer Group Inc. Has $156.91 Million Stock Holdings in United Rentals, Inc. $URI

Bessemer Group Inc. boosted its stake in United Rentals, Inc. (NYSE:URI) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,367 shares of the construction company’s stock after buying an additional 815 shares during the quarter. Bessemer Group Inc. owned approximately 0.26% of United Rentals worth $156,914,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P acquired a new position in United Rentals during the 2nd quarter worth $28,000. Salomon & Ludwin LLC increased its holdings in United Rentals by 650.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in United Rentals in the 3rd quarter worth approximately $32,000. Trust Co. of Toledo NA OH bought a new position in shares of United Rentals in the 2nd quarter valued at about $38,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of United Rentals in the 3rd quarter valued at about $40,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI opened at $847.59 on Thursday. The stock’s 50-day simple moving average is $849.25 and its 200 day simple moving average is $887.87. The stock has a market capitalization of $53.40 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.26 and a beta of 1.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47.

United Rentals (NYSE:URI) last issued 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 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $11.59 EPS. Research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has approved a stock buyback program on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be paid a $1.97 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.9%. United Rentals’s dividend payout ratio is currently 18.51%.

Insider Transactions at United Rentals

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the transaction, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

URI has been the topic of several recent research reports. Truist Financial set a $972.00 price target on United Rentals in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective on the stock in a report on Sunday, January 4th. JPMorgan Chase & Co. cut their price objective on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, Citigroup decreased their price target on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $925.59.

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.