Accent Capital Management LLC Raises Holdings in United Rentals, Inc. $URI

Accent Capital Management LLC lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 542.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,620 shares of the construction company’s stock after buying an additional 2,212 shares during the quarter. United Rentals makes up 1.0% of Accent Capital Management LLC’s holdings, making the stock its 20th largest holding. Accent Capital Management LLC’s holdings in United Rentals were worth $2,501,000 at the end of the most recent quarter.

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

Insider Activity

In related news, EVP Michael D. Durand sold 2,490 shares of United Rentals 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 completion of the sale, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the transaction, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.53% of the company’s stock.

United Rentals Trading Down 2.4%

NYSE URI opened at $837.85 on Friday. The company has a fifty day simple moving average of $871.81 and a two-hundred day simple moving average of $889.32. The stock has a market cap of $52.78 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.36 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 announced its quarterly earnings data 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). The company had revenue of $4.21 billion for 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $11.59 earnings per share. On average, analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a $1.97 dividend. This is a boost 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 was Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 20.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on URI shares. Truist Financial set a $972.00 price target on United Rentals in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. JPMorgan Chase & Co. cut their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Sanford C. Bernstein set a $965.00 price target on shares of United Rentals in a research report on Friday, January 30th. Finally, Royal Bank Of Canada cut their price objective on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently 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.