Legal & General Group Plc Sells 7,005 Shares of United Rentals, Inc. $URI

Legal & General Group Plc decreased its holdings in United Rentals, Inc. (NYSE:URI) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 398,240 shares of the construction company’s stock after selling 7,005 shares during the period. Legal & General Group Plc’s holdings in United Rentals were worth $322,304,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Abich Financial Wealth Management LLC bought a new position in shares of United Rentals during the third quarter worth approximately $29,000. Aventura Private Wealth LLC bought a new position in shares of United Rentals during the fourth quarter worth approximately $27,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of United Rentals during the third quarter worth approximately $35,000. Board of the Pension Protection Fund bought a new position in shares of United Rentals during the fourth quarter worth approximately $32,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of United Rentals during the fourth quarter worth approximately $32,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 2.9%

Shares of URI stock opened at $965.81 on Wednesday. The stock’s fifty day moving average price is $839.69 and its two-hundred day moving average price is $842.62. The company has a market cap of $60.51 billion, a PE ratio of 24.64, a P/E/G ratio of 1.49 and a beta of 1.83. United Rentals, Inc. has a fifty-two week low of $681.98 and a fifty-two week high of $1,021.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $8.86 EPS. Equities analysts predict that United Rentals, Inc. will post 47.07 EPS for the current fiscal year.

United Rentals announced that its board has authorized a stock buyback 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 reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

Insiders Place Their Bets

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on URI. Truist Financial set a $1,209.00 target price on United Rentals in a research note on Friday, April 24th. Barclays increased their target price on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Citigroup increased their target price on United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Evercore reissued an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Finally, KeyCorp increased their price target on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.13.

About United Rentals

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.