Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 59 Shares of United Rentals, Inc. (NYSE:URI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in United Rentals, Inc. (NYSE:URI) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 615 shares of the construction company’s stock after acquiring an additional 59 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in United Rentals were worth $353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of United Rentals in the 3rd quarter worth approximately $25,000. AdvisorNet Financial Inc raised its position in United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after acquiring an additional 20 shares during the period. NBC Securities Inc. purchased a new position in shares of United Rentals during the 3rd quarter worth $29,000. Larson Financial Group LLC grew its position in shares of United Rentals by 1,525.0% during the 4th quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock valued at $37,000 after acquiring an additional 61 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of United Rentals during the 3rd quarter valued at $40,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on URI. Wells Fargo & Company boosted their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Evercore ISI increased their target price on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus lifted their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. Truist Financial upped their price target 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. Finally, Barclays raised their price objective on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $600.79.

Insider Activity

In related news, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,713 shares of company stock worth $6,747,384. 0.49% of the stock is currently owned by insiders.

United Rentals Stock Performance

Shares of NYSE URI opened at $689.29 on Friday. The company has a market cap of $45.90 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.17 and a beta of 1.82. United Rentals, Inc. has a 52-week low of $325.91 and a 52-week high of $732.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The firm’s fifty day moving average is $683.34 and its two-hundred day moving average is $593.69.

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

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. United Rentals’s dividend payout ratio (DPR) is 17.66%.

United Rentals declared that its board has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.