United Rentals, Inc. $URI Shares Sold by ABN Amro Investment Solutions

ABN Amro Investment Solutions lessened its stake in United Rentals, Inc. (NYSE:URI) by 29.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,786 shares of the construction company’s stock after selling 1,993 shares during the period. ABN Amro Investment Solutions’ holdings in United Rentals were worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Woodline Partners LP increased its position in 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 buying an additional 1,577 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of United Rentals by 6.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 534 shares of the construction company’s stock valued at $402,000 after acquiring an additional 31 shares during the period. Allspring Global Investments Holdings LLC raised its position in United Rentals by 2.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,362 shares of the construction company’s stock valued at $2,603,000 after purchasing an additional 88 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in United Rentals during the 2nd quarter worth $309,000. Finally, Stratos Wealth Advisors LLC grew its position in United Rentals by 13.2% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 774 shares of the construction company’s stock worth $583,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 0.1%

Shares of NYSE URI opened at $868.85 on Monday. The stock has a market capitalization of $54.74 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.70. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The firm has a 50-day moving average price of $858.47 and a 200 day moving average price of $889.29. 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 (NYSE:URI) last issued its 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). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business posted $11.59 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals declared that its Board of Directors has authorized a share buyback program on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a dividend of $1.97 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 11th. United Rentals’s payout ratio is presently 20.37%.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. The trade was a 17.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were 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 of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

URI has been the subject of a number of research reports. Barclays reduced their target price on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a report on Monday, October 20th. KeyCorp set a $950.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Truist Financial set a $972.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Wells Fargo & Company lifted their target price 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. Finally, Robert W. Baird set a $970.00 price target on shares of United Rentals in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $925.59.

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.