Applied Finance Capital Management LLC Decreases Position in United Rentals, Inc. $URI

Applied Finance Capital Management LLC trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 19.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,649 shares of the construction company’s stock after selling 5,768 shares during the quarter. United Rentals accounts for about 1.7% of Applied Finance Capital Management LLC’s portfolio, making the stock its 23rd largest position. Applied Finance Capital Management LLC’s holdings in United Rentals were worth $23,530,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in URI. Woodline Partners LP grew its stake in shares of United Rentals by 40.0% during the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after acquiring an additional 1,577 shares during the last quarter. Callan Family Office LLC raised its position in shares of United Rentals by 115.0% in the 2nd quarter. Callan Family Office LLC now owns 1,679 shares of the construction company’s stock valued at $1,265,000 after purchasing an additional 898 shares during the last quarter. Blue Trust Inc. boosted its stake in United Rentals by 12.3% in the 2nd quarter. Blue Trust Inc. now owns 348 shares of the construction company’s stock worth $262,000 after purchasing an additional 38 shares in the last quarter. Aberdeen Group plc boosted its stake in United Rentals by 6.6% in the 2nd quarter. Aberdeen Group plc now owns 51,049 shares of the construction company’s stock worth $38,460,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in United Rentals during the 2nd quarter worth approximately $38,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of research analyst reports. Truist Financial set a $972.00 price target on shares of United Rentals in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on United Rentals in a research report on Friday, January 30th. Robert W. Baird set a $970.00 target price on United Rentals in a research note on Friday, January 30th. JPMorgan Chase & Co. dropped their price target 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, Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $925.59.

United Rentals Price Performance

Shares of NYSE URI opened at $876.25 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. The stock has a market capitalization of $55.20 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.44 and a beta of 1.70. The firm’s 50 day simple moving average is $853.05 and its 200-day simple moving average is $889.74. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47.

United Rentals (NYSE:URI) last announced its quarterly earnings results 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 firm had revenue of $4.21 billion for 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 business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $11.59 earnings per share. Analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

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

United Rentals announced that its board has initiated a share repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at United Rentals

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were 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 approximately $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. 0.51% of the stock is owned by company insiders.

About United Rentals

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.