LSV Asset Management Decreases Position in United Rentals, Inc. (NYSE:URI)

LSV Asset Management lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,915 shares of the construction company’s stock after selling 394 shares during the quarter. LSV Asset Management’s holdings in United Rentals were worth $25,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in 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 worth $598,106,000 after purchasing an additional 1,041,281 shares during the last quarter. Invesco Ltd. boosted its stake in United Rentals by 19.1% during the third quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock worth $414,974,000 after buying an additional 149,838 shares during the last quarter. Northern Trust Corp boosted its stake in United Rentals by 1.5% during the third quarter. Northern Trust Corp now owns 680,217 shares of the construction company’s stock worth $302,404,000 after buying an additional 10,018 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock valued at $284,061,000 after buying an additional 72,066 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of United Rentals by 9.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,872 shares of the construction company’s stock worth $173,770,000 after acquiring an additional 35,295 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were 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 owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred 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 directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. Insiders sold 9,713 shares of company stock worth $6,747,384 over the last 90 days. 0.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays boosted their price objective on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 26th. Morgan Stanley initiated 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 target on the stock. Evercore ISI upped their target price on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group raised their price target on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company upped their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $600.79.

United Rentals Price Performance

URI stock opened at $666.66 on Monday. The business has a 50 day simple moving average of $683.37 and a 200-day simple moving average of $588.62. The company has a market capitalization of $44.39 billion, a P/E ratio of 18.06, a PEG ratio of 2.17 and a beta of 1.82. United Rentals, Inc. has a twelve month low of $325.15 and a twelve month high of $732.37. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the firm posted $7.95 EPS. United Rentals’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that United Rentals, Inc. will post 43.61 EPS for the current year.

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

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is currently 17.66%.

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.