TCI Wealth Advisors Inc. Makes New Investment in United Rentals, Inc. (NYSE:URI)

TCI Wealth Advisors Inc. bought a new position in United Rentals, Inc. (NYSE:URI) during the 4th quarter, HoldingsChannel.com reports. The fund bought 386 shares of the construction company’s stock, valued at approximately $221,000.

Several other hedge funds also recently bought and sold shares of URI. International Assets Investment Management LLC boosted its stake in shares of United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after acquiring an additional 1,041,281 shares in the last quarter. Deutsche Bank AG boosted its stake in United Rentals by 88.1% during the 3rd quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock valued at $161,001,000 after purchasing an additional 169,586 shares during the period. Invesco Ltd. boosted its stake in United Rentals by 19.1% during the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after purchasing an additional 149,838 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in United Rentals during the 3rd quarter valued at approximately $40,634,000. Finally, The Manufacturers Life Insurance Company boosted its stake in United Rentals by 12.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock valued at $284,061,000 after purchasing an additional 72,066 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of URI traded up $14.92 during mid-day trading on Monday, reaching $681.58. The company had a trading volume of 226,580 shares, compared to its average volume of 584,172. United Rentals, Inc. has a twelve month low of $325.91 and a twelve month high of $732.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company’s 50-day moving average is $683.37 and its 200-day moving average is $588.62. The company has a market capitalization of $45.39 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.17 and a beta of 1.82.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the firm posted $7.95 EPS. United Rentals’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that United Rentals, Inc. will post 43.61 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. United Rentals’s dividend payout ratio is 17.66%.

United Rentals declared that its board has initiated a stock buyback program on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on URI. The Goldman Sachs Group increased their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial raised their price objective on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Wells Fargo & Company raised their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Barclays raised their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th. Finally, Robert W. Baird raised their price objective on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $600.79.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The disclosure for this sale can be found here. Insiders sold 9,713 shares of company stock valued at $6,747,384 in the last three months. Corporate insiders own 0.49% of the company’s stock.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.