United Rentals, Inc. $URI Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 51.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,845 shares of the construction company’s stock after selling 20,133 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in United Rentals were worth $17,991,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its position in shares of United Rentals by 650.0% during 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 stake in United Rentals in the 3rd quarter worth about $29,000. Cedar Mountain Advisors LLC purchased a new stake in United Rentals during the 3rd quarter worth approximately $32,000. Loomis Sayles & Co. L P purchased a new stake in United Rentals during the 2nd quarter worth approximately $28,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of United Rentals during the 3rd quarter worth approximately $40,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William E. Grace sold 1,498 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by corporate insiders.

United Rentals Price Performance

United Rentals stock opened at $820.50 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47. The firm has a market cap of $51.69 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.31 and a beta of 1.66. The company’s 50 day moving average is $872.83 and its two-hundred day moving average is $885.68.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing the consensus estimate of $11.86 by ($0.77). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $11.59 EPS. On average, research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s payout ratio is presently 20.37%.

Analyst Ratings Changes

URI has been the subject of a number of analyst reports. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target for the company in a research report on Sunday, January 4th. Sanford C. Bernstein set a $965.00 price objective on United Rentals in a research note on Friday, January 30th. Citigroup dropped their target price on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Wells Fargo & Company raised their target price on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Truist Financial set a $972.00 price target on United Rentals in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $925.59.

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.