MainStreet Investment Advisors LLC Takes Position in United Rentals, Inc. $URI

MainStreet Investment Advisors LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,300 shares of the construction company’s stock, valued at approximately $1,241,000.

A number of other hedge funds also recently added to or reduced their stakes in URI. Optas LLC grew its holdings in United Rentals by 0.9% in the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after buying an additional 10 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of United Rentals by 0.5% during the second quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock valued at $1,720,000 after purchasing an additional 11 shares in the last quarter. OFI Invest Asset Management lifted its holdings in United Rentals by 6.7% in the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after purchasing an additional 11 shares during the period. Great Valley Advisor Group Inc. grew its position in United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after buying an additional 11 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its position in United Rentals by 12.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock valued at $84,000 after buying an additional 12 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of URI opened at $908.05 on Monday. The company has a market capitalization of $57.21 billion, a PE ratio of 23.48, a PEG ratio of 1.46 and a beta of 1.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The company’s 50 day moving average price is $865.87 and its 200 day moving average price is $889.76. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing the consensus estimate of $11.86 by ($0.77). The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $11.59 EPS. Research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a $1.97 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 20.37%.

United Rentals declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have commented on URI. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Citigroup cut their target price on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. KeyCorp set a $950.00 price target on United Rentals in a research report on Friday, January 30th. Finally, Royal Bank Of Canada dropped their price objective on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $925.59.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the transaction, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by company insiders.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.