Northcape Capital Pty Ltd Has $2.60 Million Stake in United Rentals, Inc. (NYSE:URI)

Northcape Capital Pty Ltd cut its position in United Rentals, Inc. (NYSE:URI) by 8.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,537 shares of the construction company’s stock after selling 436 shares during the period. United Rentals makes up 0.3% of Northcape Capital Pty Ltd’s portfolio, making the stock its 20th biggest holding. Northcape Capital Pty Ltd’s holdings in United Rentals were worth $2,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of United Rentals during the third quarter valued at $25,000. NBC Securities Inc. bought a new stake in United Rentals in the third quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. acquired a new stake in United Rentals during the 3rd quarter worth about $31,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of United Rentals in the 3rd quarter worth about $40,000. Finally, Quarry LP lifted its stake in shares of United Rentals by 257.7% in the 1st quarter. Quarry LP now owns 93 shares of the construction company’s stock valued at $37,000 after purchasing an additional 67 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on URI. Citigroup increased their price target on United Rentals from $490.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Morgan Stanley began coverage on shares of United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective on the stock. Truist Financial started coverage on United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 price target on the stock. BNP Paribas reiterated an “underperform” rating and issued a $485.00 target price on shares of United Rentals in a report on Friday, January 5th. Finally, Robert W. Baird upped their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $572.20.

United Rentals Price Performance

Shares of NYSE URI traded down $0.23 during mid-day trading on Thursday, reaching $719.92. 120,954 shares of the company were exchanged, compared to its average volume of 589,241. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37. The company’s 50 day moving average price is $660.00 and its 200 day moving average price is $543.15. The stock has a market capitalization of $48.37 billion, a PE ratio of 20.43, a PEG ratio of 2.63 and a beta of 1.84. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $9.74 EPS. Sell-side analysts forecast that United Rentals, Inc. will post 42.9 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This is an increase from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 0.91%. United Rentals’s payout ratio is currently 18.44%.

United Rentals declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.