Cary Street Partners Financial LLC Has $25.90 Million Stock Holdings in United Rentals, Inc. $URI

Cary Street Partners Financial LLC reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,134 shares of the construction company’s stock after selling 665 shares during the period. Cary Street Partners Financial LLC’s holdings in United Rentals were worth $25,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of United Rentals during the 2nd quarter worth $776,102,000. JPMorgan Chase & Co. grew its position in United Rentals by 71.3% in the second 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 last quarter. Boston Partners raised its stake in United Rentals by 74.5% during the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after acquiring an additional 305,378 shares in the last quarter. TD Asset Management Inc lifted its holdings 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. Finally, Lazard Asset Management LLC lifted its holdings in shares of United Rentals by 34,208.2% in the second quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after acquiring an additional 188,487 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction on 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 sale, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction dated 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 sale, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

URI has been the subject of a number of research analyst reports. KeyCorp set a $950.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Robert W. Baird set a $970.00 price target on shares of United Rentals in a report on Friday, January 30th. Truist Financial set a $972.00 price objective on United Rentals in a report on Friday, January 30th. Citigroup reduced their price objective on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Two research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and an average target price of $925.59.

United Rentals Stock Up 1.6%

Shares of NYSE:URI opened at $896.84 on Wednesday. The firm has a market cap of $56.50 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.42 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 business has a fifty day simple moving average of $868.87 and a 200 day simple moving average of $890.21. 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 quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing the consensus estimate of $11.86 by ($0.77). The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $11.59 EPS. Analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

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

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be given a $1.97 dividend. This is an increase 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 dividend payout ratio is presently 20.37%.

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.