BTC Capital Management Inc. Has $2.24 Million Position in United Rentals, Inc. $URI

BTC Capital Management Inc. lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 47.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,078 shares of the construction company’s stock after buying an additional 995 shares during the quarter. BTC Capital Management Inc.’s holdings in United Rentals were worth $2,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hilton Head Capital Partners LLC raised its holdings in United Rentals by 123.8% in the 1st quarter. Hilton Head Capital Partners LLC now owns 94 shares of the construction company’s stock valued at $69,000 after acquiring an additional 52 shares during the period. Blue Trust Inc. boosted its holdings in shares of United Rentals by 139.4% during the first quarter. Blue Trust Inc. now owns 802 shares of the construction company’s stock worth $584,000 after acquiring an additional 467 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in shares of United Rentals by 5.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 913 shares of the construction company’s stock worth $665,000 after acquiring an additional 50 shares during the period. OP Asset Management Ltd acquired a new position in shares of United Rentals in the first quarter valued at approximately $9,124,000. Finally, Provenance Wealth Advisors LLC grew its position in shares of United Rentals by 3,333.3% in the first quarter. Provenance Wealth Advisors LLC now owns 206 shares of the construction company’s stock valued at $150,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 1.8%

Shares of NYSE URI opened at $1,082.52 on Thursday. The stock has a market capitalization of $67.82 billion, a P/E ratio of 27.62, a PEG ratio of 1.68 and a beta of 1.81. The stock’s fifty day moving average is $972.21 and its 200 day moving average is $877.50. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,106.88. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the company earned $8.86 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that United Rentals, Inc. will post 47.26 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s dividend payout ratio is 20.10%.

Insider Activity

In related news, SVP Joli L. Gross sold 306 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 26,088 shares of company stock worth $25,628,877. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the subject of several research reports. Citigroup lifted their price target on United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. Evercore reiterated an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. KeyCorp lifted their target price on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 target price on shares of United Rentals in a research report on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,045.81.

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.