Aberdeen Group plc Decreases Holdings in United Rentals, Inc. $URI

Aberdeen Group plc lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,932 shares of the construction company’s stock after selling 3,117 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of United Rentals worth $45,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of URI. Norges Bank acquired a new position in United Rentals during the second quarter worth approximately $776,102,000. JPMorgan Chase & Co. increased its holdings in shares of United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after acquiring an additional 780,322 shares during the period. Boston Partners raised its position in United Rentals by 74.5% in the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after purchasing an additional 305,378 shares during the last quarter. Lazard Asset Management LLC boosted its stake in United Rentals by 34,208.2% during the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after purchasing an additional 188,487 shares during the period. Finally, Bessemer Group Inc. boosted its stake in United Rentals by 4,436.8% during the 2nd quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock worth $123,221,000 after purchasing an additional 159,947 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 0.1%

Shares of NYSE URI opened at $868.85 on Tuesday. The firm’s 50-day moving average is $860.16 and its two-hundred day moving average is $889.19. The company has a market capitalization of $54.74 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.70. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88.

United Rentals (NYSE:URI) last released 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). The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $11.59 earnings per share. Equities analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be paid a dividend of $1.97 per share. 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 annualized dividend and a yield of 0.9%. United Rentals’s payout ratio is presently 20.37%.

United Rentals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a report on Friday, January 30th. Truist Financial set a $972.00 price target on United Rentals in a research report on Friday, January 30th. Barclays decreased their price objective on United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research report on Monday, October 20th. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a report on Sunday, January 4th. Finally, Citigroup cut their price target on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $925.59.

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 transaction of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This represents a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company’s stock.

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.