Barings LLC Reduces Stake in United Rentals, Inc. $URI

Barings LLC reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 33.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,197 shares of the construction company’s stock after selling 596 shares during the period. Barings LLC’s holdings in United Rentals were worth $872,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Gleason Group Inc. raised its stake in shares of United Rentals by 4.3% in the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock valued at $218,000 after acquiring an additional 11 shares during the period. Bridgewater Advisors Inc. boosted its position in shares of United Rentals by 1.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock valued at $783,000 after buying an additional 11 shares during the period. PFG Investments LLC boosted its position in shares of United Rentals by 0.9% during the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock valued at $854,000 after buying an additional 11 shares during the period. Great Valley Advisor Group Inc. grew its stake in shares of United Rentals by 2.9% during the second 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 last quarter. Finally, Fearless Solutions LLC dba Best Invest grew its stake in shares of United Rentals by 2.2% during the fourth quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company’s stock valued at $448,000 after buying an additional 12 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Trading Up 2.5%

Shares of NYSE:URI opened at $1,073.57 on Friday. The business’s fifty day simple moving average is $1,039.15 and its 200-day simple moving average is $909.48. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $67.26 billion, a PE ratio of 27.39, a P/E/G ratio of 1.67 and a beta of 1.79.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’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 firm posted $8.86 earnings per share. As a group, equities research analysts predict that United Rentals, Inc. will post 46.77 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is 20.10%.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. 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 stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on URI shares. Citigroup raised their price target on United Rentals from $1,210.00 to $1,270.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America increased their target price on United Rentals from $1,020.00 to $1,195.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Morgan Stanley reiterated an “overweight” rating and set a $1,030.00 target price on shares of United Rentals in a research report on Friday, April 24th. Robert W. Baird boosted their target price on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Truist Financial upped their price target on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,131.56.

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.