Waverton Investment Management Ltd Boosts Holdings in United Rentals, Inc. $URI

Waverton Investment Management Ltd boosted its stake in shares of United Rentals, Inc. (NYSE:URI) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,044 shares of the construction company’s stock after purchasing an additional 4,575 shares during the quarter. United Rentals makes up 2.9% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 19th biggest holding. Waverton Investment Management Ltd owned approximately 0.37% of United Rentals worth $226,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of URI. Davis R M Inc. acquired a new stake in United Rentals during the 3rd quarter worth $228,000. London & Capital Asset Management Ltd raised its position in United Rentals by 26.4% in the third quarter. London & Capital Asset Management Ltd now owns 39,133 shares of the construction company’s stock worth $37,362,000 after acquiring an additional 8,183 shares in the last quarter. Finemark National Bank & Trust lifted its stake in shares of United Rentals by 58.0% in the third quarter. Finemark National Bank & Trust now owns 678 shares of the construction company’s stock valued at $647,000 after purchasing an additional 249 shares during the period. Accent Capital Management LLC lifted its position in shares of United Rentals by 542.2% during the 3rd quarter. Accent Capital Management LLC now owns 2,620 shares of the construction company’s stock valued at $2,501,000 after acquiring an additional 2,212 shares during the period. Finally, Arete Wealth Advisors LLC boosted its position in United Rentals by 4.3% during the third quarter. Arete Wealth Advisors LLC now owns 557 shares of the construction company’s stock worth $531,000 after purchasing an additional 23 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on URI. JPMorgan Chase & Co. lowered their price target on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Truist Financial set a $972.00 price objective on United Rentals in a research note on Friday, January 30th. Robert W. Baird set a $970.00 price target on United Rentals in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price target on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Trading Down 2.4%

NYSE:URI opened at $837.85 on Monday. The stock has a market cap of $52.78 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. The stock’s 50-day moving average is $871.81 and its two-hundred day moving average is $889.02. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing the consensus estimate of $11.86 by ($0.77). The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $11.59 EPS. As a group, equities research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 20.37%.

United Rentals announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the sale, the executive vice president directly owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.51% of the company’s stock.

About United Rentals

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.