United Rentals, Inc. (NYSE:URI) is Eukles Asset Management’s 9th Largest Position

Eukles Asset Management reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,830 shares of the construction company’s stock after selling 57 shares during the quarter. United Rentals comprises approximately 2.4% of Eukles Asset Management’s portfolio, making the stock its 9th largest holding. Eukles Asset Management’s holdings in United Rentals were worth $5,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in United Rentals by 7,691.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,506 shares of the construction company’s stock valued at $1,245,000 after purchasing an additional 3,461 shares during the period. Raymond James Trust N.A. increased its stake in United Rentals by 14.6% in the first quarter. Raymond James Trust N.A. now owns 2,296 shares of the construction company’s stock valued at $815,000 after purchasing an additional 293 shares during the period. Cibc World Market Inc. increased its stake in United Rentals by 16.8% in the first quarter. Cibc World Market Inc. now owns 7,941 shares of the construction company’s stock valued at $2,821,000 after purchasing an additional 1,140 shares during the period. Sei Investments Co. increased its stake in United Rentals by 50.1% in the first quarter. Sei Investments Co. now owns 1,914 shares of the construction company’s stock valued at $678,000 after purchasing an additional 639 shares during the period. Finally, Prudential PLC acquired a new position in United Rentals in the first quarter valued at $560,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Morgan Stanley assumed coverage on shares of United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target on the stock. Barclays boosted their price target on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Robert W. Baird boosted their price target on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Finally, Truist Financial assumed coverage on shares of United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 price target on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $589.21.

United Rentals Trading Down 1.0 %

URI stock traded down $6.21 on Friday, hitting $626.67. 271,412 shares of the company were exchanged, compared to its average volume of 574,973. United Rentals, Inc. has a twelve month low of $325.15 and a twelve month high of $732.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The business’s fifty day moving average is $680.37 and its two-hundred day moving average is $569.06. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.84.

United Rentals (NYSE:URI) last issued 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. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the business posted $9.74 earnings per share. United Rentals’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, research analysts forecast that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $1.63 per share. This is a positive change 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 yield of 1.04%. United Rentals’s dividend payout ratio is 18.44%.

United Rentals declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO William E. Grace sold 775 shares of the 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 sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

About United Rentals

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.