Allstate Corp Has $3.89 Million Stock Position in United Rentals, Inc. $URI

Allstate Corp grew its position in shares of United Rentals, Inc. (NYSE:URI) by 100.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,809 shares of the construction company’s stock after acquiring an additional 2,412 shares during the quarter. Allstate Corp’s holdings in United Rentals were worth $3,892,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC acquired a new position in United Rentals during the 3rd quarter worth approximately $29,000. Aventura Private Wealth LLC acquired a new position in United Rentals during the 4th quarter worth approximately $27,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of United Rentals in the 3rd quarter valued at approximately $35,000. Board of the Pension Protection Fund acquired a new stake in shares of United Rentals in the 4th quarter valued at approximately $32,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of United Rentals in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Trading Up 2.7%

NYSE URI opened at $989.11 on Thursday. The stock has a 50 day moving average of $844.61 and a 200-day moving average of $843.63. United Rentals, Inc. has a 12 month low of $681.98 and a 12 month high of $1,021.47. The company has a market cap of $61.97 billion, a PE ratio of 25.23, a PEG ratio of 1.53 and a beta of 1.83. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the business earned $8.86 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that United Rentals, Inc. will post 47.07 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

United Rentals announced that its Board of Directors has initiated a stock 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 buy up to 8.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

URI has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays increased their price objective on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. Royal Bank Of Canada increased their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. JPMorgan Chase & Co. increased their price objective on United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Weiss Ratings raised United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,006.13.

Insiders Place Their Bets

In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the sale, the chief executive officer owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This trade represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the sale, the vice president directly owned 1,865 shares of the company’s stock, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,088 shares of company stock worth $25,628,877. Company insiders own 0.47% of the company’s stock.

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.