Advisors Capital Management LLC Sells 2,035 Shares of United Rentals, Inc. $URI

Advisors Capital Management LLC lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 6.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,749 shares of the construction company’s stock after selling 2,035 shares during the quarter. Advisors Capital Management LLC’s holdings in United Rentals were worth $30,310,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Loomis Sayles & Co. L P acquired a new position in shares of United Rentals in the 2nd quarter valued at $28,000. Salomon & Ludwin LLC lifted its holdings 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 acquiring an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in United Rentals during the third quarter worth about $29,000. Cedar Mountain Advisors LLC acquired a new stake in shares of United Rentals during the third quarter worth about $32,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of United Rentals in the 3rd quarter valued at approximately $40,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of URI opened at $864.09 on Wednesday. The stock has a market capitalization of $54.44 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.39 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 firm has a fifty day simple moving average of $861.66 and a 200 day simple moving average of $889.22. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.86 by ($0.77). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the firm posted $11.59 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a dividend of $1.97 per share. The ex-dividend date is Wednesday, February 11th. This is a boost 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 dividend payout ratio is currently 20.37%.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird set a $970.00 target price on United Rentals in a research note on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Citigroup dropped their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. lowered their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,498 shares of the firm’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 completion of the transaction, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a 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 on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the transaction, the executive vice president owned 7,458 shares in the company, 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. Corporate 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.