Impax Asset Management Group plc Grows Stock Position in United Rentals, Inc. $URI

Impax Asset Management Group plc boosted its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,058 shares of the construction company’s stock after purchasing an additional 2,104 shares during the quarter. Impax Asset Management Group plc’s holdings in United Rentals were worth $47,789,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Robert W. Baird set a $970.00 target price on United Rentals in a report on Friday, January 30th. Citigroup dropped their price objective on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Royal Bank Of Canada cut their target price on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered their price target on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Finally, Sanford C. Bernstein set a $965.00 price target on shares of United Rentals in a research note on Friday, January 30th. Two equities 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 assigned a Sell rating to the company. According to data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the transaction, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. The trade was a 17.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.51% of the company’s stock.

United Rentals Stock Performance

Shares of URI opened at $875.46 on Wednesday. The company’s 50 day simple moving average is $854.55 and its 200-day simple moving average is $889.65. The firm has a market cap of $55.15 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.70. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company earned $11.59 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

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

United Rentals declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.