Groesbeck Investment Management Corp NJ Buys 741 Shares of United Rentals, Inc. (NYSE:URI)

Groesbeck Investment Management Corp NJ lifted its stake in United Rentals, Inc. (NYSE:URI) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,166 shares of the construction company’s stock after acquiring an additional 741 shares during the quarter. United Rentals makes up 4.9% of Groesbeck Investment Management Corp NJ’s portfolio, making the stock its 2nd biggest holding. Groesbeck Investment Management Corp NJ’s holdings in United Rentals were worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. AdvisorNet Financial Inc increased its position in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. OFI Invest Asset Management acquired a new position in United Rentals during the third quarter worth $25,000. NBC Securities Inc. acquired a new position in United Rentals during the third quarter worth $29,000. Arlington Trust Co LLC increased its position in United Rentals by 50.0% during the fourth quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after buying an additional 28 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in United Rentals during the third quarter worth $40,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO William E. Grace sold 775 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

United Rentals Trading Up 1.2 %

Shares of URI traded up $7.91 during trading hours on Thursday, hitting $644.13. 196,276 shares of the stock traded hands, compared to its average volume of 574,946. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37. The firm has a market capitalization of $43.27 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.27 and a beta of 1.84. The business has a fifty day moving average of $680.66 and a 200-day moving average of $568.62.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the firm posted $9.74 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts expect that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $1.63 per share. 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 dividend on an annualized basis and a dividend yield of 1.01%. United Rentals’s dividend payout ratio (DPR) is presently 18.44%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on URI. BNP Paribas reaffirmed an “underperform” rating and issued a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Barclays raised their price target on United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. The Goldman Sachs Group raised their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Truist Financial began coverage on United Rentals in a research report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $589.21.

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.