Findlay Park Partners LLP Sells 35,000 Shares of United Rentals, Inc. $URI

Findlay Park Partners LLP reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 15.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 192,436 shares of the construction company’s stock after selling 35,000 shares during the quarter. United Rentals comprises approximately 1.9% of Findlay Park Partners LLP’s holdings, making the stock its 22nd biggest position. Findlay Park Partners LLP’s holdings in United Rentals were worth $183,711,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in URI. Norges Bank acquired a new stake in United Rentals during the 2nd quarter valued at $776,102,000. JPMorgan Chase & Co. raised its position in shares of United Rentals by 71.3% in the second 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 during the period. Boston Partners raised its position in shares of United Rentals by 74.5% in the second 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 during the period. TD Asset Management Inc lifted its stake in shares of United Rentals by 66.5% during the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after buying an additional 193,416 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of United Rentals by 34,208.2% during the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after buying an additional 188,487 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP William E. Grace sold 1,498 shares of the company’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 completion of the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals 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 in the company, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.53% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $837.85 on Friday. The stock’s fifty day moving average price is $871.81 and its two-hundred day moving average price is $889.52. The firm has a market cap of $52.78 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.39 and a beta of 1.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. United Rentals, Inc. has a one year low of $525.91 and a one year high of $1,021.47.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The company had revenue of $4.21 billion during 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 firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $11.59 EPS. As a group, research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

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

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 11th. This is a boost from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio is presently 20.37%.

Wall Street Analysts Forecast Growth

URI has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. JPMorgan Chase & Co. decreased 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. Robert W. Baird set a $970.00 target price on United Rentals in a research note on Friday, January 30th. KeyCorp set a $950.00 price target on United Rentals in a research note on Friday, January 30th. Finally, Wells Fargo & Company upped their price objective on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

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.