United Rentals, Inc. $URI Shares Sold by RKL Wealth Management LLC

RKL Wealth Management LLC lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 10.5% during the third quarter, Holdings Channel reports. The institutional investor owned 6,174 shares of the construction company’s stock after selling 726 shares during the period. RKL Wealth Management LLC’s holdings in United Rentals were worth $5,894,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its stake in shares of United Rentals by 650.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in United Rentals during the third quarter worth $29,000. Cedar Mountain Advisors LLC purchased a new stake in United Rentals during the third quarter worth $32,000. Loomis Sayles & Co. L P purchased a new stake in United Rentals during the second quarter worth $28,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in United Rentals in the third quarter valued at $40,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 4.7%

Shares of URI opened at $854.70 on Thursday. The stock’s 50-day moving average is $870.14 and its two-hundred day moving average is $889.96. The stock has a market cap of $53.85 billion, a PE ratio of 22.10, a P/E/G ratio of 1.44 and a beta of 1.70. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The company had revenue of $4.21 billion during 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $11.59 EPS. Equities analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

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

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 11th. United Rentals’s payout ratio is 20.37%.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the transaction, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. KeyCorp set a $950.00 target price on shares of United Rentals in a research report on Friday, January 30th. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target for the company in a report on Sunday, January 4th. Royal Bank Of Canada dropped their price objective on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Finally, Robert W. Baird set a $970.00 price objective on United Rentals in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

About United Rentals

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.