Mission Wealth Management LP Sells 3,699 Shares of United Rentals, Inc. $URI

Mission Wealth Management LP lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 32.3% during the third quarter, Holdings Channel reports. The fund owned 7,742 shares of the construction company’s stock after selling 3,699 shares during the period. Mission Wealth Management LP’s holdings in United Rentals were worth $7,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P bought a new stake in shares of United Rentals during the second quarter valued at approximately $28,000. Salomon & Ludwin LLC raised its position in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in United Rentals during the 3rd quarter worth $32,000. Trust Co. of Toledo NA OH bought a new position in United Rentals in the 2nd quarter valued at $38,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in United Rentals in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 0.4%

Shares of NYSE URI opened at $779.31 on Tuesday. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The stock has a market cap of $49.10 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.24 and a beta of 1.69. The firm has a 50 day moving average price of $848.95 and a 200 day moving average price of $888.26.

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

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be paid a $1.97 dividend. The ex-dividend date of this dividend is 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 1.0%. United Rentals’s payout ratio is presently 20.37%.

United Rentals announced that its board has initiated a share repurchase program on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to repurchase 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on URI shares. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective for the company in a report on Sunday, January 4th. Citigroup cut their target price on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank Of Canada reduced their target price on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Activity

In other news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

United Rentals Company 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.