United Rentals, Inc. $URI Shares Acquired by Capital World Investors

Capital World Investors boosted its holdings in United Rentals, Inc. (NYSE:URI) by 6.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,678,614 shares of the construction company’s stock after buying an additional 168,685 shares during the quarter. Capital World Investors’ holdings in United Rentals were worth $2,557,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of URI. Capital International Sarl grew its holdings in shares of United Rentals by 34.8% in the 3rd quarter. Capital International Sarl now owns 9,271 shares of the construction company’s stock worth $8,851,000 after acquiring an additional 2,393 shares during the last quarter. Capital International Inc. CA lifted its holdings in shares of United Rentals by 2,857.1% during the third quarter. Capital International Inc. CA now owns 31,138 shares of the construction company’s stock valued at $29,726,000 after purchasing an additional 30,085 shares during the last quarter. Capital International Investors boosted its position in shares of United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after purchasing an additional 631,484 shares during the period. Bank of Montreal Can boosted its position in shares of United Rentals by 6.8% in the 3rd quarter. Bank of Montreal Can now owns 114,507 shares of the construction company’s stock valued at $109,316,000 after purchasing an additional 7,278 shares during the period. Finally, Legal & General Group Plc increased its stake in United Rentals by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 405,245 shares of the construction company’s stock worth $386,871,000 after purchasing an additional 2,213 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup reduced 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 note on Monday, February 2nd. Royal Bank Of Canada cut their price target on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 price target on shares of United Rentals in a research report on Friday, January 30th. UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective for the company in a research note on Sunday, January 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $925.59.

United Rentals Stock Performance

URI stock opened at $820.50 on Tuesday. The firm has a 50 day simple moving average of $872.83 and a 200 day simple moving average of $885.68. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The stock has a market cap of $51.69 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.31 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94.

United Rentals (NYSE:URI) last released its quarterly earnings data 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 analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $11.59 EPS. Research 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 declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $1.97 per share. The ex-dividend date was Wednesday, February 11th. This represents a $7.88 annualized dividend and a dividend yield of 1.0%. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio is presently 20.37%.

United Rentals declared that its board has approved a share repurchase 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 purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction 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 approximately $5,900,322.12. The trade was a 25.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction dated 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 owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

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.