Beacon Investment Advisory Services Inc. Raises Stock Position in United Rentals, Inc. $URI

Beacon Investment Advisory Services Inc. lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 1,358.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,227 shares of the construction company’s stock after buying an additional 7,663 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in United Rentals were worth $6,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of URI. Capital International Investors increased its stake in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after purchasing an additional 631,484 shares in the last quarter. Capital World Investors boosted its position in United Rentals by 6.7% during the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after purchasing an additional 168,685 shares in the last quarter. Franklin Resources Inc. boosted its position in United Rentals by 6.8% during the third quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after purchasing an additional 83,978 shares in the last quarter. Alliancebernstein L.P. grew its holdings in United Rentals by 5.6% in the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock valued at $1,038,870,000 after purchasing an additional 57,977 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in United Rentals by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 948,386 shares of the construction company’s stock valued at $905,313,000 after purchasing an additional 26,847 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the transaction, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William E. Grace sold 1,498 shares of the firm’s 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 sale, 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. 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

NYSE URI opened at $733.75 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The business has a fifty day moving average of $831.19 and a 200-day moving average of $864.80. The stock has a market cap of $46.15 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.19 and a beta of 1.66.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 EPS 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 analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $11.59 EPS. As a group, analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

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

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 annualized dividend and a dividend yield of 1.1%. This is an increase from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio is 20.37%.

Analyst Upgrades and Downgrades

URI has been the subject of several research reports. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target for the company in a research note on Sunday, January 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Royal Bank Of Canada dropped 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. Citigroup cut their target price on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Finally, Truist Financial set a $972.00 price target on shares of United Rentals in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.