Thoroughbred Financial Services LLC Buys 1,080 Shares of United Rentals, Inc. $URI

Thoroughbred Financial Services LLC grew its stake in United Rentals, Inc. (NYSE:URI) by 25.6% in the third quarter, HoldingsChannel reports. The fund owned 5,304 shares of the construction company’s stock after acquiring an additional 1,080 shares during the period. Thoroughbred Financial Services LLC’s holdings in United Rentals were worth $5,063,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of URI. Loomis Sayles & Co. L P acquired a new stake in shares of United Rentals in the second quarter valued at approximately $28,000. Salomon & Ludwin LLC increased its stake in shares of 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 buying an additional 26 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of United Rentals in the 3rd quarter valued at $29,000. Cedar Mountain Advisors LLC bought a new stake in shares of United Rentals during the third quarter worth $32,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of United Rentals during the third quarter valued at $40,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction on 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 directly owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction on 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 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 disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on URI. JPMorgan Chase & Co. lowered their price objective on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Citigroup lowered their price target on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Truist Financial set a $972.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Finally, Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $925.59.

United Rentals Stock Up 1.6%

Shares of NYSE:URI opened at $896.84 on Wednesday. The company has a 50 day moving average price of $868.87 and a two-hundred day moving average price of $890.21. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The company has a market capitalization of $56.50 billion, a PE ratio of 23.19, a PEG ratio of 1.42 and a beta of 1.70. 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 announced its quarterly earnings results 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 firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’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. Analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

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

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend 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 currently 20.37%.

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.