Swiss National Bank Has $178.81 Million Stake in United Rentals, Inc. $URI

Swiss National Bank lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,300 shares of the construction company’s stock after selling 10,500 shares during the quarter. Swiss National Bank’s holdings in United Rentals were worth $178,808,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P bought a new position in shares of United Rentals in the 2nd quarter worth about $28,000. Salomon & Ludwin LLC lifted 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 purchasing an additional 26 shares during the period. Abich Financial Wealth Management LLC bought a new stake in shares of United Rentals during the 3rd quarter valued at about $29,000. Cedar Mountain Advisors LLC acquired a new stake in United Rentals during the third quarter worth approximately $32,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in United Rentals during the third quarter worth approximately $40,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Up 1.3%

United Rentals stock opened at $820.50 on Tuesday. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. 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 firm’s 50-day simple moving average is $872.83 and its 200 day simple moving average is $885.68. The stock has a market cap of $51.69 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.31 and a beta of 1.66.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing the consensus estimate of $11.86 by ($0.77). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the business posted $11.59 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a $1.97 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 20.37%.

United Rentals announced that its board has approved a share buyback program on Wednesday, January 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Royal Bank Of Canada cut their price target on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Finally, Citigroup dropped their target price on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the sale, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.51% of the company’s stock.

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.