Mcrae Capital Management Inc. Has $15.88 Million Stock Position in United Rentals, Inc. $URI

Mcrae Capital Management Inc. cut its position in United Rentals, Inc. (NYSE:URI) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,632 shares of the construction company’s stock after selling 650 shares during the period. United Rentals accounts for approximately 3.2% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Mcrae Capital Management Inc.’s holdings in United Rentals were worth $15,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in URI. Loomis Sayles & Co. L P acquired a new position in shares of United Rentals during the second quarter worth approximately $28,000. Salomon & Ludwin LLC grew its position in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Abich Financial Wealth Management LLC bought a new stake in United Rentals during the 3rd quarter valued at $29,000. Cedar Mountain Advisors LLC acquired a new position in United Rentals during the third quarter worth $32,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of United Rentals in the third quarter valued at $40,000. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

Shares of United Rentals stock opened at $880.39 on Thursday. The business’s fifty day simple moving average is $863.00 and its 200 day simple moving average is $889.16. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The firm has a market capitalization of $55.46 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.38 and a beta of 1.70.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share (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 net margin of 15.49% and a return on equity of 30.35%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $11.59 EPS. As a group, analysts anticipate 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. Investors of record on Wednesday, February 11th will be issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.9%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date is Wednesday, February 11th. United Rentals’s dividend payout ratio is 20.37%.

United Rentals declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on URI. UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a research report on Sunday, January 4th. Citigroup decreased their price objective 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. Sanford C. Bernstein set a $965.00 target price on United Rentals in a report on Friday, January 30th. JPMorgan Chase & Co. cut their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and a consensus price target of $925.59.

Insider Activity

In other news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This represents a 25.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William E. Grace sold 1,498 shares of United Rentals 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 completion of the sale, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.53% of the company’s stock.

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.