United Rentals, Inc. (NYSE:URI) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,609 shares of the construction company’s stock after selling 35 shares during the quarter. New York Life Investment Management LLC’s holdings in United Rentals were worth $6,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of URI. Ballentine Partners LLC lifted its position in United Rentals by 2.1% during the 4th quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock worth $510,000 after acquiring an additional 18 shares during the period. DGS Capital Management LLC raised its position in United Rentals by 1.3% during the 4th quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock worth $827,000 after buying an additional 18 shares during the last quarter. Oak Ridge Investments LLC raised its position in United Rentals by 0.3% during the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock worth $3,335,000 after buying an additional 20 shares during the last quarter. Caprock Group LLC lifted its stake in shares of United Rentals by 2.3% in the 4th quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock worth $516,000 after acquiring an additional 20 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Trading Up 0.3 %

Shares of URI opened at $666.66 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37. The stock has a market cap of $44.39 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 2.17 and a beta of 1.82. The firm has a 50 day simple moving average of $683.37 and a 200-day simple moving average of $586.57.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the previous year, the firm posted $7.95 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts forecast that United Rentals, Inc. will post 43.52 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $1.63 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. United Rentals’s dividend payout ratio (DPR) is 17.66%.

United Rentals announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on URI. Barclays raised their price objective on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Stifel Nicolaus boosted their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Evercore ISI increased 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. Finally, Truist Financial raised their price objective on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $600.79.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were 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 owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. Insiders have sold 9,713 shares of company stock valued at $6,747,384 in the last ninety days. Insiders own 0.53% of the company’s stock.

United Rentals 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.