NZS Capital LLC Has $91 Million Stake in United Rentals, Inc. $URI

NZS Capital LLC lowered its stake in United Rentals, Inc. (NYSE:URI) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,318 shares of the construction company’s stock after selling 15,300 shares during the quarter. United Rentals accounts for approximately 2.8% of NZS Capital LLC’s portfolio, making the stock its 12th largest position. NZS Capital LLC owned approximately 0.15% of United Rentals worth $90,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Optas LLC grew its holdings in United Rentals by 0.9% in the third quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 10 shares during the period. CreativeOne Wealth LLC raised its holdings 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 during the period. OFI Invest Asset Management boosted its position in shares of United Rentals by 6.7% during the 3rd quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after purchasing an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of 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 during the period. Finally, Opal Wealth Advisors LLC grew its stake in shares of United Rentals by 2.7% in the 3rd quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company’s stock valued at $430,000 after buying an additional 12 shares during the period. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Up 1.7%

URI stock opened at $834.70 on Wednesday. The firm has a market capitalization of $52.59 billion, a PE ratio of 21.58, a P/E/G ratio of 1.33 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The stock’s 50 day moving average is $872.23 and its 200-day moving average is $887.77.

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

United Rentals announced that its Board of Directors has approved a share buyback program on Wednesday, January 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a $1.97 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 20.37%.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the transaction, the executive vice president directly owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the sale, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on URI shares. KeyCorp set a $950.00 price target on United Rentals in a research note on Friday, January 30th. Robert W. Baird set a $970.00 price objective on United Rentals in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on United Rentals in a research report on Friday, January 30th. Wells Fargo & Company increased 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. Finally, Citigroup reduced their price target on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Company 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.