United Rentals, Inc. $URI Stake Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in United Rentals, Inc. (NYSE:URI) by 37.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,434 shares of the construction company’s stock after acquiring an additional 31,125 shares during the quarter. Victory Capital Management Inc.’s holdings in United Rentals were worth $108,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC increased its position in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in United Rentals in the third quarter worth approximately $29,000. Cedar Mountain Advisors LLC bought a new position in United Rentals during the third quarter valued at approximately $32,000. Loomis Sayles & Co. L P bought a new position in United Rentals during the second quarter valued at approximately $28,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in United Rentals in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. This represents a 17.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction on Monday, February 2nd. The shares were 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 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. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Truist Financial set a $972.00 price target on shares of United Rentals in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Royal Bank Of Canada cut their target price on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Robert W. Baird set a $970.00 price target on United Rentals in a research report on Friday, January 30th. Finally, KeyCorp set a $950.00 price target on United Rentals in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $925.59.

United Rentals Stock Up 2.2%

URI stock opened at $851.43 on Thursday. The stock has a market capitalization of $53.64 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.66. The company has a 50-day moving average of $872.77 and a two-hundred day moving average of $887.52. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 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 business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm posted $11.59 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals announced that its board has authorized a stock buyback plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 0.9%. 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 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.