Peddock Capital Advisors LLC Purchases 185 Shares of United Rentals, Inc. (NYSE:URI)

Peddock Capital Advisors LLC grew its holdings in United Rentals, Inc. (NYSE:URI) by 24.9% during the 4th quarter, Holdings Channel reports. The firm owned 927 shares of the construction company’s stock after purchasing an additional 185 shares during the period. Peddock Capital Advisors LLC’s holdings in United Rentals were worth $532,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of URI. Farmers & Merchants Investments Inc. boosted its position in shares of United Rentals by 16.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 350 shares of the construction company’s stock worth $156,000 after purchasing an additional 50 shares during the last quarter. AMF Tjanstepension AB grew its position in shares of United Rentals by 121.1% during the 3rd quarter. AMF Tjanstepension AB now owns 65,475 shares of the construction company’s stock worth $29,133,000 after buying an additional 35,864 shares during the period. IFM Investors Pty Ltd increased its stake in shares of United Rentals by 4.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 16,069 shares of the construction company’s stock valued at $7,144,000 after acquiring an additional 634 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of United Rentals by 9.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,872 shares of the construction company’s stock valued at $173,770,000 after acquiring an additional 35,295 shares during the period. Finally, NBT Bank N A NY bought a new position in United Rentals during the 3rd quarter worth approximately $258,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Insiders sold 9,713 shares of company stock worth $6,747,384 over the last three months. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Robert W. Baird increased their target price on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Oppenheimer restated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Truist Financial raised their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $600.79.

United Rentals Stock Performance

United Rentals stock traded up $0.94 during midday trading on Wednesday, hitting $675.21. The company’s stock had a trading volume of 251,898 shares, compared to its average volume of 580,253. 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 $325.91 and a 1-year high of $732.37. The company has a 50-day moving average price of $683.58 and a two-hundred day moving average price of $592.43. The company has a market cap of $44.96 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.17 and a beta of 1.82.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS 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 for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the business earned $7.95 earnings per share. United Rentals’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that United Rentals, Inc. will post 43.61 earnings per share for the current year.

United Rentals declared that its Board of Directors has approved a stock buyback program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 0.97%. United Rentals’s dividend payout ratio is currently 17.66%.

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.