Varma Mutual Pension Insurance Co Sells 1,070 Shares of United Rentals, Inc. $URI

Varma Mutual Pension Insurance Co trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,235 shares of the construction company’s stock after selling 1,070 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in United Rentals were worth $9,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Aventura Private Wealth LLC bought a new stake in shares of United Rentals in the fourth quarter valued at approximately $27,000. Salomon & Ludwin LLC boosted its stake in United Rentals by 650.0% during the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in United Rentals during the third quarter worth $29,000. Cedar Mountain Advisors LLC acquired a new stake in United Rentals during the third quarter worth $32,000. Finally, Board of the Pension Protection Fund acquired a new stake in United Rentals during the fourth quarter worth $32,000. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Up 0.9%

Shares of NYSE URI opened at $933.61 on Wednesday. The stock has a market cap of $58.49 billion, a PE ratio of 23.82, a PEG ratio of 1.47 and a beta of 1.83. The business has a fifty day moving average of $802.64 and a two-hundred day moving average of $839.47. United Rentals, Inc. has a 52-week low of $645.18 and a 52-week high of $1,021.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the firm earned $8.86 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that United Rentals, Inc. will post 46.99 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s payout ratio is currently 20.10%.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Truist Financial set a $1,209.00 price target on shares of United Rentals in a research note on Friday, April 24th. Wells Fargo & Company lifted their price target on shares of 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 lifted their price target on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Citigroup lifted their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $986.35.

Insiders Place Their Bets

In related news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at $1,823,708.90. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by corporate 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.