Shell Asset Management Co. Has $1.75 Million Holdings in United Rentals, Inc. $URI

Shell Asset Management Co. trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 82.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,833 shares of the construction company’s stock after selling 8,730 shares during the quarter. Shell Asset Management Co.’s holdings in United Rentals were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Berkshire Asset Management LLC PA bought a new position in United Rentals during the third quarter valued at approximately $204,000. Columbia Bank increased its stake in shares of United Rentals by 1.5% during the 3rd quarter. Columbia Bank now owns 3,497 shares of the construction company’s stock worth $3,567,000 after purchasing an additional 52 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of United Rentals during the 3rd quarter valued at $29,000. Assetmark Inc. lifted its stake in shares of United Rentals by 332.6% in the 3rd quarter. Assetmark Inc. now owns 5,659 shares of the construction company’s stock valued at $5,403,000 after purchasing an additional 4,351 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in United Rentals by 3,094.3% in the third quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company’s stock worth $148,233,000 after purchasing an additional 150,412 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on URI shares. Barclays cut their target price on United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a report on Monday, October 20th. JPMorgan Chase & Co. reduced their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Wells Fargo & Company increased their price target on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Robert W. Baird set a $970.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Finally, Truist Financial set a $972.00 target price on shares of United Rentals in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $925.59.

United Rentals Stock Down 0.1%

URI opened at $868.85 on Monday. The business has a 50 day moving average of $858.47 and a 200-day moving average of $889.29. The stock has a market capitalization of $54.74 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 1.39 and a beta of 1.70. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing the consensus estimate of $11.86 by ($0.77). The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $11.59 earnings per share. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.9%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend is Wednesday, February 11th. United Rentals’s dividend payout ratio (DPR) is 20.37%.

United Rentals declared that its board has initiated a stock buyback program on Wednesday, January 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the sale, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. The trade was a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.