United Rentals, Inc. (NYSE:URI) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 13.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 27,628 shares of the construction company’s stock after selling 4,209 shares during the period. Wedge Capital Management L L P NC’s holdings in United Rentals were worth $15,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in United Rentals by 3.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,770 shares of the construction company’s stock valued at $790,000 after purchasing an additional 60 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of United Rentals in the 3rd quarter worth about $217,000. Impact Partnership Wealth LLC lifted its position in shares of United Rentals by 282.4% in the 3rd quarter. Impact Partnership Wealth LLC now owns 130 shares of the construction company’s stock worth $58,000 after purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. increased its stake in United Rentals by 15.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 8,821 shares of the construction company’s stock valued at $3,820,000 after purchasing an additional 1,181 shares in the last quarter. Finally, Argus Investors Counsel Inc. lifted its holdings in United Rentals by 6.4% during the third quarter. Argus Investors Counsel Inc. now owns 2,776 shares of the construction company’s stock valued at $1,234,000 after purchasing an additional 167 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.49% of the company’s stock.

United Rentals Stock Up 4.9 %

United Rentals stock traded up $30.79 during mid-day trading on Tuesday, reaching $660.09. The company’s stock had a trading volume of 123,681 shares, compared to its average volume of 574,939. The business’s 50 day simple moving average is $679.24 and its 200 day simple moving average is $573.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month high of $732.37.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company earned $9.74 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts anticipate that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals declared that its board has authorized a share buyback program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. The ex-dividend date was Tuesday, February 13th. This represents a $6.52 annualized dividend and a yield of 0.99%. This is a boost from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio is currently 18.44%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on URI. Truist Financial began coverage on shares of United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 price target on the stock. Robert W. Baird increased their target price on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Evercore ISI lifted their target price on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group lifted their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, BNP Paribas reiterated an “underperform” rating and issued a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average price target of $589.21.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.