Spinecap SAS Trims Holdings in United Rentals, Inc. $URI

Spinecap SAS lowered its holdings in shares of United Rentals, Inc. (NYSE:URI) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,029 shares of the construction company’s stock after selling 762 shares during the period. United Rentals accounts for 4.2% of Spinecap SAS’s investment portfolio, making the stock its 13th largest holding. Spinecap SAS’s holdings in United Rentals were worth $9,735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of URI. Norges Bank purchased a new stake in shares of United Rentals in the fourth quarter valued at about $978,017,000. Capital International Investors grew its holdings in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares during the last quarter. Corient Private Wealth LLC increased its position in United Rentals by 1,667.4% in the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after acquiring an additional 324,503 shares during the period. TD Asset Management Inc increased its position in United Rentals by 66.5% in the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock valued at $462,485,000 after acquiring an additional 193,416 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after acquiring an additional 191,162 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on URI shares. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. KeyCorp boosted their target price on United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Royal Bank Of Canada upped their price target on 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. Robert W. Baird increased their price target on United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Citigroup lifted their price objective on shares of United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $1,045.81.

United Rentals Stock Up 2.7%

URI opened at $1,077.68 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The company has a market cap of $67.52 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.66 and a beta of 1.81. United Rentals, Inc. has a one year low of $693.78 and a one year high of $1,106.88. The business’s fifty day moving average is $947.43 and its two-hundred day moving average is $869.81.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share 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 firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the business earned $8.86 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that United Rentals, Inc. will post 47.26 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is 20.10%.

Insider Buying and Selling at United Rentals

In other news, SVP Joli L. Gross sold 306 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is currently owned by insiders.

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.