United Rentals, Inc. $URI Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC lessened its holdings in United Rentals, Inc. (NYSE:URI) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,814 shares of the construction company’s stock after selling 840 shares during the quarter. United Rentals accounts for about 2.9% of Renaissance Investment Group LLC’s holdings, making the stock its 12th biggest position. Renaissance Investment Group LLC’s holdings in United Rentals were worth $14,417,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Avior Wealth Management LLC grew its holdings in United Rentals by 45.3% during the fourth quarter. Avior Wealth Management LLC now owns 327 shares of the construction company’s stock worth $265,000 after acquiring an additional 102 shares during the period. Board of the Pension Protection Fund acquired a new position in United Rentals during the fourth quarter worth about $32,000. Hudson Bay Capital Management LP increased its holdings in United Rentals by 19.1% in the third quarter. Hudson Bay Capital Management LP now owns 810 shares of the construction company’s stock valued at $773,000 after buying an additional 130 shares in the last quarter. Allworth Financial LP increased its holdings in United Rentals by 12.9% in the third quarter. Allworth Financial LP now owns 1,165 shares of the construction company’s stock valued at $1,112,000 after buying an additional 133 shares in the last quarter. Finally, Swiss Life Asset Management Ltd lifted its position in shares of United Rentals by 10.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 24,480 shares of the construction company’s stock valued at $23,370,000 after acquiring an additional 2,223 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Rentals

In other news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. The trade was a 25.03% 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 Price Performance

URI stock opened at $720.91 on Friday. The stock has a market capitalization of $45.42 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.17 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 52-week low of $525.91 and a 52-week high of $1,021.47. The stock’s fifty day simple moving average is $854.75 and its 200-day simple moving average is $875.33.

United Rentals (NYSE:URI) last released its 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). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the company posted $11.59 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals announced that its board has initiated a share buyback program on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were issued a $1.97 dividend. The ex-dividend date was Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 1.1%. United Rentals’s payout ratio is presently 20.37%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on URI shares. KeyCorp set a $950.00 price target on United Rentals in a report on Friday, January 30th. Robert W. Baird set a $970.00 target price on United Rentals in a research report on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on United Rentals in a report on Friday, January 30th. Wells Fargo & Company lifted their price target on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Citigroup lowered their price objective on shares of 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 research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $925.59.

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.