SVB Wealth LLC Cuts Stake in United Rentals, Inc. (NYSE:URI)

SVB Wealth LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 20.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,453 shares of the construction company’s stock after selling 2,161 shares during the quarter. SVB Wealth LLC’s holdings in United Rentals were worth $4,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Dakota Wealth Management boosted its holdings in shares of United Rentals by 77.1% during the 4th quarter. Dakota Wealth Management now owns 9,122 shares of the construction company’s stock valued at $5,231,000 after acquiring an additional 3,971 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of United Rentals by 95.3% during the 4th quarter. Vontobel Holding Ltd. now owns 4,453 shares of the construction company’s stock valued at $2,553,000 after acquiring an additional 2,173 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of United Rentals during the 4th quarter valued at about $2,351,000. Simplicity Solutions LLC boosted its holdings in shares of United Rentals by 12.8% during the 4th quarter. Simplicity Solutions LLC now owns 2,064 shares of the construction company’s stock valued at $1,184,000 after acquiring an additional 234 shares during the last quarter. Finally, Byrne Asset Management LLC boosted its holdings in shares of United Rentals by 2,042.9% during the 4th quarter. Byrne Asset Management LLC now owns 150 shares of the construction company’s stock valued at $87,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.49% of the company’s stock.

United Rentals Price Performance

NYSE URI opened at $655.97 on Wednesday. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month high of $732.37. The stock has a market cap of $44.06 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.31 and a beta of 1.84. The company’s 50 day moving average is $680.99 and its two-hundred day moving average is $568.14. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $9.74 EPS. 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 repurchase plan on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Wells Fargo & Company increased their price objective on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. BNP Paribas reiterated an “underperform” rating and issued a $485.00 price objective on shares of United Rentals in a research note on Friday, January 5th. Barclays increased their price objective on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Finally, Robert W. Baird increased their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus 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.