Olde Wealth Management LLC Purchases Shares of 800 United Rentals, Inc. $URI

Olde Wealth Management LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 800 shares of the construction company’s stock, valued at approximately $764,000.

Other large investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. boosted its holdings in United Rentals by 73.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,740 shares of the construction company’s stock worth $5,533,000 after acquiring an additional 2,428 shares during the period. National Pension Service raised its stake in shares of United Rentals by 4.5% during the third quarter. National Pension Service now owns 103,146 shares of the construction company’s stock valued at $98,469,000 after purchasing an additional 4,415 shares during the period. North Growth Management Ltd. raised its stake in shares of United Rentals by 22.2% during the third quarter. North Growth Management Ltd. now owns 11,000 shares of the construction company’s stock valued at $10,189,000 after purchasing an additional 2,000 shares during the period. HB Wealth Management LLC lifted its position in shares of United Rentals by 37.2% during the third quarter. HB Wealth Management LLC now owns 6,608 shares of the construction company’s stock worth $6,308,000 after purchasing an additional 1,790 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of United Rentals by 11.6% during the third quarter. Independent Advisor Alliance now owns 9,108 shares of the construction company’s stock worth $8,695,000 after purchasing an additional 947 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the subject of a number of recent analyst reports. UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target for the company in a report on Sunday, January 4th. Royal Bank Of Canada cut their price objective on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on United Rentals in a research note on Friday, January 30th. JPMorgan Chase & Co. dropped their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Citigroup cut their price target on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Two investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $925.59.

Insider Activity at United Rentals

In other news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction that occurred on 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 directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the company’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 sale, the executive vice president directly owned 6,872 shares in the company, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Up 0.3%

NYSE URI opened at $736.27 on Friday. The company has a market capitalization of $46.39 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The company’s fifty day moving average price is $867.74 and its two-hundred day moving average price is $881.40.

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

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors 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 yield of 1.1%. The ex-dividend date of this dividend was Wednesday, February 11th. United Rentals’s dividend payout ratio is presently 20.37%.

United Rentals announced that its board has authorized a stock repurchase plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.