Simplicity Wealth LLC Sells 685 Shares of United Rentals, Inc. $URI

Simplicity Wealth LLC lessened its position in United Rentals, Inc. (NYSE:URI) by 69.8% during the 4th quarter, Holdings Channel reports. The firm owned 296 shares of the construction company’s stock after selling 685 shares during the quarter. Simplicity Wealth LLC’s holdings in United Rentals were worth $240,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in URI. Gleason Group Inc. lifted its holdings in United Rentals by 4.3% during the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock valued at $218,000 after purchasing an additional 11 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in United Rentals by 1.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after buying an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after buying an additional 11 shares in the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of United Rentals by 2.7% during the third quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company’s stock worth $430,000 after buying an additional 12 shares in the last quarter. Finally, Howard Capital Management Inc. raised its stake in shares of United Rentals by 3.1% in the third quarter. Howard Capital Management Inc. now owns 395 shares of the construction company’s stock valued at $377,000 after acquiring an additional 12 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $952.13 on Friday. The business’s 50-day simple moving average is $802.13 and its 200 day simple moving average is $841.19. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The stock has a market cap of $59.65 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 1.51 and a beta of 1.83. United Rentals, Inc. has a 12-month low of $645.18 and a 12-month high of $1,021.47.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.86 earnings per share. As a group, research analysts anticipate that United Rentals, Inc. will post 46.99 earnings per share for the current year.

United Rentals declared that its board has authorized a stock repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, May 13th. United Rentals’s dividend payout ratio is currently 20.10%.

Insiders Place Their Bets

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares in the company, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,076 shares of company stock valued at $28,783,569 over the last three months. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

URI has been the topic of several recent analyst reports. Truist Financial set a $1,209.00 target price on United Rentals in a report on Friday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Citigroup boosted their price objective on United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. increased their target price on United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada raised their target price on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $986.35.

United Rentals 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.