Everence Capital Management Inc. Buys 240 Shares of United Rentals, Inc. (NYSE:URI)

Everence Capital Management Inc. grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 15.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,770 shares of the construction company’s stock after purchasing an additional 240 shares during the period. Everence Capital Management Inc.’s holdings in United Rentals were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in URI. Norges Bank purchased a new stake in shares of United Rentals during the 4th quarter valued at $586,415,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of United Rentals by 104,089.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock valued at $476,961,000 after purchasing an additional 1,340,676 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after purchasing an additional 1,041,281 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of United Rentals by 49.1% during the 1st quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock valued at $238,890,000 after purchasing an additional 221,613 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of United Rentals by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock valued at $2,905,379,000 after purchasing an additional 186,931 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 3.0 %

Shares of NYSE URI opened at $636.21 on Thursday. The business’s 50 day moving average is $680.66 and its two-hundred day moving average is $568.62. The firm has a market cap of $42.73 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.27 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, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, topping the consensus estimate of $10.85 by $0.41. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.74 earnings per share. Research analysts predict that United Rentals, Inc. will post 43.13 EPS for the current 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. This is an increase from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. United Rentals’s payout ratio is 18.44%.

United Rentals declared that its Board of Directors has approved a share repurchase program on Wednesday, January 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on URI shares. BNP Paribas restated an “underperform” rating and issued a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Robert W. Baird raised their target price on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Barclays raised their target price on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Morgan Stanley assumed coverage on United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $589.21.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 775 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.