United Rentals, Inc. $URI Position Cut by Moors & Cabot Inc.

Moors & Cabot Inc. reduced its holdings in United Rentals, Inc. (NYSE:URI) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,573 shares of the construction company’s stock after selling 1,484 shares during the quarter. United Rentals accounts for 0.7% of Moors & Cabot Inc.’s portfolio, making the stock its 27th largest position. Moors & Cabot Inc.’s holdings in United Rentals were worth $15,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Woodline Partners LP raised its stake in shares of United Rentals by 40.0% during the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in United Rentals by 2.4% during the 2nd quarter. Foundations Investment Advisors LLC now owns 837 shares of the construction company’s stock valued at $631,000 after buying an additional 20 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of United Rentals by 6.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,941 shares of the construction company’s stock worth $12,010,000 after buying an additional 1,006 shares in the last quarter. Meridian Wealth Management LLC raised its position in shares of United Rentals by 59.1% during the 2nd quarter. Meridian Wealth Management LLC now owns 767 shares of the construction company’s stock worth $578,000 after buying an additional 285 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of United Rentals by 7.7% in the 2nd quarter. Creative Planning now owns 15,309 shares of the construction company’s stock worth $11,534,000 after acquiring an additional 1,093 shares during the period. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on URI shares. JPMorgan Chase & Co. dropped their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Truist Financial set a $972.00 price target 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 research report on Friday, January 30th. Citigroup dropped their price objective on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Finally, Wells Fargo & Company raised their target price on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the firm’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 transaction, the executive vice president directly owned 7,458 shares in the company, 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 filing with the SEC, which is available through this link. Also, 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 sale, the executive vice president 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 currently owned by insiders.

United Rentals Price Performance

NYSE URI opened at $743.02 on Tuesday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47. The business’s fifty day moving average is $864.82 and its two-hundred day moving average is $878.98. The stock has a market capitalization of $46.81 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.19 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94.

United Rentals (NYSE:URI) last released 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 company had revenue of $4.21 billion for 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 revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $11.59 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a yield of 1.1%. This is an increase from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio (DPR) is 20.37%.

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

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.