Richard Bernstein Advisors LLC Reduces Stock Position in United Rentals, Inc. $URI

Richard Bernstein Advisors LLC reduced its holdings in United Rentals, Inc. (NYSE:URI) by 55.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,765 shares of the construction company’s stock after selling 2,156 shares during the period. Richard Bernstein Advisors LLC’s holdings in United Rentals were worth $1,685,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Loomis Sayles & Co. L P purchased a new stake in United Rentals during the second quarter worth $28,000. Salomon & Ludwin LLC increased its stake in shares of United Rentals by 650.0% during the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of United Rentals in the third quarter valued at approximately $29,000. Cedar Mountain Advisors LLC purchased a new position in United Rentals in the 3rd quarter valued at $32,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in United Rentals during the third quarter worth about $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value 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 represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the business’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 value of $1,184,753.22. Following the completion of the transaction, the executive vice president directly owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. 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

Several equities research analysts recently issued reports on the stock. Truist Financial set a $972.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Citigroup reduced their price target on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Sanford C. Bernstein set a $965.00 price target on United Rentals in a research report on Friday, January 30th. Finally, Robert W. Baird set a $970.00 price objective on United Rentals in a report on Friday, January 30th. Two equities research 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Trading Up 1.3%

Shares of NYSE:URI opened at $820.50 on Tuesday. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. The company has a market cap of $51.69 billion, a PE ratio of 21.21, a P/E/G ratio of 1.31 and a beta of 1.66. The company’s 50 day moving average is $872.83 and its two-hundred day moving average is $885.68.

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

United Rentals declared that its Board of Directors has authorized a share buyback program on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a $1.97 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, February 11th. United Rentals’s dividend payout ratio (DPR) is presently 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.