United Rentals, Inc. $URI Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in United Rentals, Inc. (NYSE:URI) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,804 shares of the construction company’s stock after selling 1,059 shares during the quarter. PNC Financial Services Group Inc. owned 0.09% of United Rentals worth $57,092,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of URI. Loomis Sayles & Co. L P purchased a new stake in United Rentals in the 2nd quarter valued at about $28,000. Salomon & Ludwin LLC increased its position in shares of United Rentals by 650.0% during the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of United Rentals during the third quarter valued at about $29,000. Cedar Mountain Advisors LLC purchased a new stake in shares of United Rentals in the 3rd quarter valued at approximately $32,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of United Rentals in the 3rd quarter worth approximately $40,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

URI has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Barclays lowered their price target on United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a report on Sunday, January 4th. Finally, Sanford C. Bernstein set a $965.00 target price on United Rentals in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Trading Down 0.1%

NYSE:URI opened at $868.85 on Tuesday. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The firm has a market cap of $54.74 billion, a PE ratio of 22.46, a price-to-earnings-growth 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. The stock has a fifty day moving average price of $860.16 and a 200 day moving average price of $889.19.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share 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 analysts’ expectations of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.United Rentals’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $11.59 EPS. Sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal 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 issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.9%. This is a positive change 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 is 20.37%.

United Rentals announced that its board has authorized a share buyback plan on Wednesday, January 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the transaction, the executive vice president owned 7,458 shares in the company, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the sale, the executive vice president directly owned 6,872 shares in the company, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by insiders.

United Rentals Company 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.