Raiffeisen Bank International AG Has $11.30 Million Stock Position in United Rentals, Inc. $URI

Raiffeisen Bank International AG increased its position in United Rentals, Inc. (NYSE:URI) by 289.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,972 shares of the construction company’s stock after buying an additional 8,897 shares during the period. Raiffeisen Bank International AG’s holdings in United Rentals were worth $11,300,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in United Rentals during the 2nd quarter valued at about $776,102,000. JPMorgan Chase & Co. raised its stake in shares of United Rentals by 71.3% in the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares during the last quarter. Boston Partners lifted its holdings in shares of United Rentals by 74.5% in the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after purchasing an additional 305,378 shares in the last quarter. Lazard Asset Management LLC grew its holdings in United Rentals by 34,208.2% during the second quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after buying an additional 188,487 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in United Rentals by 4,436.8% in the 2nd quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock valued at $123,221,000 after buying an additional 159,947 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In other United Rentals 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 sale, the executive vice president owned 6,872 shares of the company’s stock, valued at $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 is available at the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction dated 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 sale, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a research note on Friday, January 30th. KeyCorp set a $950.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Robert W. Baird set a $970.00 target price on United Rentals in a research note on Friday, January 30th. Finally, Truist Financial set a $972.00 target price on United Rentals in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Stock Performance

United Rentals stock opened at $908.05 on Friday. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $57.21 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. The firm’s 50 day simple moving average is $865.87 and its 200 day simple moving average is $889.42.

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

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

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be given a $1.97 dividend. The ex-dividend date is 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 dividend payout ratio is presently 20.37%.

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.