United Rentals, Inc. $URI Shares Sold by ABN Amro Investment Solutions

ABN Amro Investment Solutions trimmed its stake in United Rentals, Inc. (NYSE:URI) by 29.4% in the third quarter, HoldingsChannel.com reports. The fund owned 4,786 shares of the construction company’s stock after selling 1,993 shares during the quarter. ABN Amro Investment Solutions’ holdings in United Rentals were worth $4,569,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in United Rentals in the 2nd quarter valued at about $776,102,000. JPMorgan Chase & Co. raised its position in shares of United Rentals by 71.3% in the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after buying an additional 780,322 shares during the last quarter. Boston Partners lifted its stake in shares of United Rentals by 74.5% during the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after buying an additional 305,378 shares during the period. Lazard Asset Management LLC boosted its position in United Rentals by 34,208.2% during the second quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after acquiring an additional 188,487 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in United Rentals by 4,436.8% during the second quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock worth $123,221,000 after acquiring an additional 159,947 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,498 shares of the 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 completion of the transaction, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals 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 owned 7,458 shares in the company, 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. Insiders own 0.51% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $868.85 on Monday. The company’s fifty day simple moving average is $858.47 and its 200-day simple moving average is $889.29. 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, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The company has a market cap of $54.74 billion, a PE ratio of 22.46, a P/E/G ratio of 1.39 and a beta of 1.70.

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

United Rentals declared that its board has approved a share buyback plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be paid a dividend of $1.97 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 0.9%. United Rentals’s payout ratio is presently 20.37%.

Analyst Upgrades and Downgrades

URI has been the subject of several analyst reports. Robert W. Baird set a $970.00 price target on United Rentals in a report on Friday, January 30th. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target for the company in a report on Sunday, January 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Royal Bank Of Canada lowered their target price 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. Finally, Truist Financial set a $972.00 price target on shares of 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $925.59.

United Rentals 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.