Cardinal Capital Management Inc. raised its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,773 shares of the construction company’s stock after buying an additional 712 shares during the quarter. Cardinal Capital Management Inc. owned approximately 0.07% of United Rentals worth $33,808,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in URI. Aventura Private Wealth LLC purchased a new stake in United Rentals in the 4th quarter valued at about $27,000. Salomon & Ludwin LLC grew its holdings in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in United Rentals in the 3rd quarter valued at about $29,000. Cedar Mountain Advisors LLC purchased a new stake in United Rentals in the 3rd quarter valued at about $32,000. Finally, Board of the Pension Protection Fund purchased a new stake in United Rentals in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Analysts Set New Price Targets
URI has been the subject of several recent analyst reports. Citigroup lowered their price target on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Robert W. Baird set a $970.00 price target on United Rentals in a report on Friday, January 30th. Truist Financial set a $972.00 price target on United Rentals in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. lowered their price target on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.
Read Our Latest Stock Report on URI
United Rentals Stock Up 0.8%
Shares of NYSE:URI opened at $767.01 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. United Rentals, Inc. has a 1 year low of $557.05 and a 1 year high of $1,021.47. The stock has a market capitalization of $48.24 billion, a P/E ratio of 19.83, a PEG ratio of 1.23 and a beta of 1.68. The stock has a 50-day simple moving average of $800.77 and a 200-day simple moving average of $852.88.
United Rentals (NYSE:URI – Get Free Report) 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 return on equity of 30.35% and a net margin of 15.49%.The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm posted $11.59 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.
United Rentals Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 11th. This is an increase from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio (DPR) is presently 20.37%.
United Rentals declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
Insider Transactions at United Rentals
In other news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at $5,434,996.08. The trade was a 17.90% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by insiders.
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.
Further Reading
Receive News & Ratings for United Rentals Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for United Rentals and related companies with MarketBeat.com’s FREE daily email newsletter.
