GAMMA Investing LLC Buys Shares of 676 United Rentals, Inc. (NYSE:URI)

GAMMA Investing LLC purchased a new position in United Rentals, Inc. (NYSE:URI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 676 shares of the construction company’s stock, valued at approximately $422,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in shares of United Rentals by 8.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the construction company’s stock worth $598,000 after purchasing an additional 84 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in shares of United Rentals by 2.8% in the 4th quarter. SlateStone Wealth LLC now owns 4,896 shares of the construction company’s stock valued at $2,807,000 after buying an additional 135 shares in the last quarter. Larson Financial Group LLC grew its position in shares of United Rentals by 1,525.0% in the 4th quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock worth $37,000 after buying an additional 61 shares during the last quarter. PDS Planning Inc bought a new position in shares of United Rentals during the 4th quarter worth approximately $252,000. Finally, Foster & Motley Inc. lifted its position in United Rentals by 6.8% during the fourth quarter. Foster & Motley Inc. now owns 7,678 shares of the construction company’s stock valued at $4,403,000 after acquiring an additional 487 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 775 shares of the business’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 value 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 $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

URI has been the topic of a number of recent analyst reports. Barclays upped their price target on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th. Truist Financial initiated coverage on United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price target for the company. Wells Fargo & Company upped their price objective on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Morgan Stanley initiated coverage on shares of United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 target price for the company. Finally, Evercore ISI upped their price target on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and an average target price of $589.21.

United Rentals Stock Performance

Shares of United Rentals stock traded down $3.55 during trading on Wednesday, hitting $657.77. 328,034 shares of the company’s stock were exchanged, compared to its average volume of 578,142. United Rentals, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37. 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 stock has a market capitalization of $44.18 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.18 and a beta of 1.84. The business has a 50-day simple moving average of $679.75 and a 200-day simple moving average of $575.51.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share 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 business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the business posted $9.74 EPS. The company’s revenue was up 13.1% on a year-over-year basis. On average, research analysts forecast that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Company Profile

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.