TRUE Private Wealth Advisors Purchases 179 Shares of United Rentals, Inc. (NYSE:URI)

TRUE Private Wealth Advisors grew its position in United Rentals, Inc. (NYSE:URI) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,624 shares of the construction company’s stock after acquiring an additional 179 shares during the quarter. TRUE Private Wealth Advisors’ holdings in United Rentals were worth $4,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of United Rentals by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after purchasing an additional 186,931 shares during the period. Morgan Stanley boosted its holdings in shares of United Rentals by 10.8% in the 4th quarter. Morgan Stanley now owns 1,756,009 shares of the construction company’s stock worth $624,121,000 after purchasing an additional 170,958 shares during the period. Norges Bank purchased a new position in United Rentals during the 4th quarter valued at $586,415,000. Geode Capital Management LLC boosted its holdings in United Rentals by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 1,441,997 shares of the construction company’s stock valued at $569,394,000 after acquiring an additional 39,917 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its holdings in United Rentals by 104,089.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock valued at $476,961,000 after acquiring an additional 1,340,676 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

NYSE:URI traded down $10.77 during trading hours on Wednesday, reaching $655.97. The company had a trading volume of 585,189 shares, compared to its average volume of 465,619. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37. The firm has a market cap of $44.06 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.31 and a beta of 1.84. The business’s 50 day moving average price is $680.99 and its 200-day moving average price is $568.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75.

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

United Rentals Increases Dividend

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

United Rentals declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on URI. Wells Fargo & Company boosted their price objective on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Barclays boosted their price objective on United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 26th. Evercore ISI upped their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Morgan Stanley began coverage on United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday. 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.com, United Rentals currently has a consensus rating of “Hold” and an average price target of $589.21.

Insider Buying and Selling at United Rentals

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

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.