Penserra Capital Management LLC Acquires 596 Shares of United Rentals, Inc. $URI

Penserra Capital Management LLC grew its holdings in United Rentals, Inc. (NYSE:URI) by 166.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 955 shares of the construction company’s stock after buying an additional 596 shares during the quarter. Penserra Capital Management LLC’s holdings in United Rentals were worth $910,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in URI. Optas LLC boosted its holdings in United Rentals by 0.9% during the third quarter. Optas LLC now owns 1,174 shares of the construction company’s stock valued at $1,121,000 after purchasing an additional 10 shares in the last quarter. CreativeOne Wealth LLC lifted its position in shares of United Rentals by 0.5% during the 2nd quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock worth $1,720,000 after buying an additional 11 shares during the period. Great Valley Advisor Group Inc. boosted its stake in United Rentals by 2.9% in the 2nd 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 in the last quarter. OFI Invest Asset Management grew its position in United Rentals by 6.7% in the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock valued at $167,000 after acquiring an additional 11 shares during the period. Finally, Bank of Jackson Hole Trust raised its stake in United Rentals by 12.0% during the second quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock worth $84,000 after acquiring an additional 12 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

URI stock opened at $901.15 on Friday. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. The company has a market cap of $56.77 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 1.44 and a beta of 1.70. The business’s fifty day moving average is $851.62 and its 200-day moving average is $889.11.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the company earned $11.59 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date is Wednesday, February 11th. United Rentals’s dividend payout ratio is 18.51%.

United Rentals announced that its board has authorized a share repurchase plan on Wednesday, January 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

URI has been the topic of several recent analyst reports. Barclays reduced their target price on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. 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 research report on Friday, January 30th. Royal Bank Of Canada dropped their price objective on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on United Rentals 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 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

Insider Activity at United Rentals

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 value of $1,969,938.60. Following the completion of the transaction, the executive vice president owned 7,458 shares in the company, valued at $5,900,322.12. This trade represents a 25.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.