Assenagon Asset Management S.A. Acquires 75,092 Shares of United Rentals, Inc. $URI

Assenagon Asset Management S.A. raised its holdings in United Rentals, Inc. (NYSE:URI) by 748.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,129 shares of the construction company’s stock after purchasing an additional 75,092 shares during the period. Assenagon Asset Management S.A. owned 0.13% of United Rentals worth $68,897,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Cambridge Financial Group LLC purchased a new position in United Rentals in the 4th quarter valued at approximately $235,000. Marshall Financial Group LLC purchased a new stake in shares of United Rentals during the fourth quarter worth $605,000. Tactive Advisors LLC bought a new position in shares of United Rentals in the fourth quarter worth $233,000. Regent Peak Wealth Advisors LLC boosted its holdings in shares of United Rentals by 7.5% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 373 shares of the construction company’s stock worth $302,000 after acquiring an additional 26 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of United Rentals by 14.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,937 shares of the construction company’s stock valued at $7,080,000 after purchasing an additional 1,028 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,498 shares of the 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 transaction, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction 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 completion of the transaction, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

United Rentals Stock Performance

Shares of NYSE URI opened at $746.37 on Wednesday. The stock has a market cap of $47.02 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.18 and a beta of 1.66. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47. The stock’s 50-day moving average is $841.97 and its 200 day moving average is $869.26.

United Rentals (NYSE:URI) last released its earnings results 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 the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $11.59 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals announced that its board has authorized a share repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in 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 an indication that the company’s management believes its stock is 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 paid a $1.97 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.1%. United Rentals’s dividend payout ratio is currently 20.37%.

Analysts Set New Price Targets

URI has been the topic of a number of analyst reports. Citigroup decreased their price objective on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Royal Bank Of Canada cut their target price on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Truist Financial set a $972.00 price target on United Rentals in a research report on Friday, January 30th. Sanford C. Bernstein set a $965.00 price target on shares of United Rentals in a report 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 research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.