Picton Mahoney Asset Management Increases Position in United Rentals, Inc. $URI

Picton Mahoney Asset Management increased its position in shares of United Rentals, Inc. (NYSE:URI) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,445 shares of the construction company’s stock after acquiring an additional 3,581 shares during the quarter. Picton Mahoney Asset Management’s holdings in United Rentals were worth $29,066,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its position in shares of United Rentals by 73.3% in the third quarter. TD Waterhouse Canada Inc. now owns 5,740 shares of the construction company’s stock worth $5,533,000 after buying an additional 2,428 shares during the period. National Pension Service lifted its position in United Rentals by 4.5% during the 3rd quarter. National Pension Service now owns 103,146 shares of the construction company’s stock worth $98,469,000 after acquiring an additional 4,415 shares in the last quarter. North Growth Management Ltd. lifted its position in United Rentals by 22.2% during the 3rd quarter. North Growth Management Ltd. now owns 11,000 shares of the construction company’s stock worth $10,189,000 after acquiring an additional 2,000 shares in the last quarter. Vise Technologies Inc. purchased a new position in United Rentals in the 2nd quarter worth approximately $7,514,000. Finally, HB Wealth Management LLC boosted its holdings in United Rentals by 37.2% in the 3rd quarter. HB Wealth Management LLC now owns 6,608 shares of the construction company’s stock worth $6,308,000 after acquiring an additional 1,790 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 completion of the transaction, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. This trade represents a 17.90% 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 Michael D. Durand sold 2,490 shares of the business’s 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 sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.51% of the company’s stock.

United Rentals Trading Up 1.7%

URI opened at $834.70 on Wednesday. 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. The stock has a market capitalization of $52.59 billion, a PE ratio of 21.58, a P/E/G ratio of 1.33 and a beta of 1.66. The firm’s fifty day moving average price is $872.23 and its 200 day moving average price is $887.77.

United Rentals (NYSE:URI) last released its 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $11.59 EPS. As a group, research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

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

United Rentals Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Truist Financial set a $972.00 price target on shares of United Rentals in a report on Friday, January 30th. KeyCorp set a $950.00 price target on shares of United Rentals in a research note on Friday, January 30th. Wells Fargo & Company boosted their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, Citigroup decreased their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Two research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

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.