SVB Wealth LLC Lowers Stock Holdings in United Rentals, Inc. $URI

SVB Wealth LLC cut its stake in United Rentals, Inc. (NYSE:URI) by 37.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,831 shares of the construction company’s stock after selling 1,731 shares during the period. SVB Wealth LLC’s holdings in United Rentals were worth $2,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in URI. Norges Bank purchased a new position in United Rentals in the second quarter worth approximately $776,102,000. JPMorgan Chase & Co. raised its holdings in shares of United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Boston Partners raised its holdings in shares of United Rentals by 74.5% in the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after purchasing an additional 305,378 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of United Rentals by 34,208.2% during the second quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after purchasing an additional 188,487 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in United Rentals by 4,436.8% in the second quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock valued at $123,221,000 after buying an additional 159,947 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the topic of several recent research reports. KeyCorp set a $950.00 price target on United Rentals in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. JPMorgan Chase & Co. decreased their price target on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Royal Bank Of Canada reduced their price objective on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Finally, Citigroup lowered their target price on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Two investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Trading Down 0.1%

NYSE URI opened at $875.46 on Wednesday. The firm has a market capitalization of $55.15 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.40 and a beta of 1.70. 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, Inc. has a one year low of $525.91 and a one year high of $1,021.47. The company’s 50 day moving average price is $854.55 and its 200 day moving average price is $889.65.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share (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%.United Rentals’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $11.59 EPS. On average, sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.9%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend is Wednesday, February 11th. United Rentals’s dividend payout ratio is 18.51%.

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

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the transaction, the executive vice president directly owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% 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.