Prudential PLC Sells 6,377 Shares of United Rentals, Inc. $URI

Prudential PLC lowered its position in United Rentals, Inc. (NYSE:URI) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,473 shares of the construction company’s stock after selling 6,377 shares during the quarter. Prudential PLC’s holdings in United Rentals were worth $24,318,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P bought a new position in United Rentals during the 2nd quarter valued at about $28,000. Salomon & Ludwin LLC lifted its stake in United Rentals by 650.0% in the third 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 purchased a new position in shares of United Rentals during the third quarter valued at approximately $29,000. Cedar Mountain Advisors LLC purchased a new position in shares of United Rentals during the third quarter valued at approximately $32,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of United Rentals during the third quarter valued at approximately $40,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $736.27 on Friday. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.19 and a beta of 1.66. The company’s 50 day moving average is $867.74 and its 200 day moving average is $881.40. 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.

United Rentals (NYSE:URI) last issued 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). The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $11.59 EPS. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed 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 is an increase from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.1%. United Rentals’s dividend payout ratio (DPR) is currently 20.37%.

United Rentals declared that its board has approved a stock repurchase program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

URI has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target 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. Citigroup cut their price objective on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a research note on Sunday, January 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered their target price on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $925.59.

Insiders Place Their Bets

In related news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William E. Grace sold 1,498 shares of United Rentals 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 transaction, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. This trade represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% 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.