Schroder Investment Management Group Decreases Position in United Rentals, Inc. $URI

by · The Markets Daily

Schroder Investment Management Group decreased its position in United Rentals, Inc. (NYSE:URI – Free Report) by 4.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,254 shares of the construction company’s stock after selling 1,603 shares during the period. Schroder Investment Management Group’s holdings in United Rentals were worth $33,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P acquired a new position in shares of United Rentals during the 2nd quarter worth $28,000. Salomon & Ludwin LLC grew its stake in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in United Rentals during the 3rd quarter valued at about $29,000. Cedar Mountain Advisors LLC purchased a new position in United Rentals during the 3rd quarter valued at about $32,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in United Rentals during the third quarter worth about $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 0.6%

Shares of United Rentals stock opened at $780.64 on Thursday. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The firm has a market cap of $49.18 billion, a PE ratio of 20.18, a P/E/G ratio of 1.25 and a beta of 1.66. The business’s fifty day moving average is $871.41 and its two-hundred day moving average is $883.86. 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 (NYSE:URI – Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $11.59 EPS. Analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals announced that its Board of Directors has initiated a share buyback program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were issued a $1.97 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 1.0%. United Rentals’s dividend payout ratio (DPR) is presently 20.37%.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the firm’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 of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the sale, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on URI. JPMorgan Chase & Co. reduced their price target on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 price objective on United Rentals in a research report on Friday, January 30th. Citigroup reduced their target price 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. Royal Bank Of Canada lowered their target price on 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. Finally, KeyCorp set a $950.00 price target on United Rentals in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus price target of $925.59.

Get Our Latest Stock Report on United Rentals

About United Rentals

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI – Free Report).