United Rentals, Inc. $URI Shares Sold by 1248 Management LLC

1248 Management LLC cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 58.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 741 shares of the construction company’s stock after selling 1,054 shares during the quarter. 1248 Management LLC’s holdings in United Rentals were worth $707,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. raised its stake in shares of United Rentals by 5.6% in the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after purchasing an additional 57,977 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in United Rentals by 135.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 33,151 shares of the construction company’s stock worth $31,648,000 after buying an additional 19,081 shares during the period. Creative Planning increased its holdings in United Rentals by 10.6% in the 3rd quarter. Creative Planning now owns 16,937 shares of the construction company’s stock worth $16,169,000 after buying an additional 1,628 shares during the period. Lazard Asset Management LLC raised its position in United Rentals by 22.9% during the 3rd quarter. Lazard Asset Management LLC now owns 232,394 shares of the construction company’s stock worth $221,857,000 after buying an additional 43,356 shares during the last quarter. Finally, Credit Agricole S A purchased a new position in United Rentals during the 3rd quarter worth approximately $14,640,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $736.27 on Friday. The company has a market capitalization of $46.38 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The company’s fifty day moving average price is $867.74 and its 200 day moving average price is $880.97. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year 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 for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company posted $11.59 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals announced that its board has approved a share repurchase program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. United Rentals’s dividend payout ratio (DPR) is presently 20.37%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. KeyCorp set a $950.00 price objective on shares of United Rentals in a report on Friday, January 30th. Truist Financial set a $972.00 target price on shares of United Rentals in a report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Robert W. Baird set a $970.00 price target on United Rentals in a research report on Friday, January 30th. Finally, Wells Fargo & Company lifted their price objective on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus target price 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.