United Rentals, Inc. (NYSE:URI) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in United Rentals, Inc. (NYSE:URI) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,051 shares of the construction company’s stock after buying an additional 6,655 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.62% of United Rentals worth $239,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after buying an additional 1,041,281 shares during the last quarter. Invesco Ltd. grew its position in United Rentals by 19.1% in the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after buying an additional 149,838 shares during the last quarter. Northern Trust Corp grew its position in United Rentals by 1.5% in the 3rd quarter. Northern Trust Corp now owns 680,217 shares of the construction company’s stock valued at $302,404,000 after buying an additional 10,018 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in United Rentals by 12.7% in 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 buying an additional 72,066 shares during the last quarter. Finally, Deutsche Bank AG grew its position in United Rentals by 88.1% in the 3rd quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock valued at $161,001,000 after buying an additional 169,586 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus boosted their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Evercore ISI boosted their target price on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Robert W. Baird boosted their target price on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Finally, Truist Financial boosted their target price on shares of United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and a consensus price target of $600.79.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were 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 of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the transaction, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,713 shares of company stock valued at $6,747,384. 0.49% of the stock is owned by insiders.

United Rentals Price Performance

United Rentals stock opened at $677.84 on Thursday. The firm’s 50-day simple moving average is $683.41 and its 200 day simple moving average is $593.02. United Rentals, Inc. has a 52 week low of $325.91 and a 52 week high of $732.37. The firm has a market capitalization of $45.14 billion, a PE ratio of 18.36, a P/E/G ratio of 2.17 and a beta of 1.82. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the company posted $7.95 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts predict that United Rentals, Inc. will post 43.61 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

United Rentals announced that its board has initiated a share buyback program on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

United Rentals Company Profile

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.