Holocene Advisors LP Reduces Position in United Rentals, Inc. $URI

Holocene Advisors LP lowered its position in United Rentals, Inc. (NYSE:URI) by 39.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 329,442 shares of the construction company’s stock after selling 212,603 shares during the quarter. United Rentals makes up approximately 0.7% of Holocene Advisors LP’s portfolio, making the stock its 29th biggest position. Holocene Advisors LP owned approximately 0.52% of United Rentals worth $314,505,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of URI. Vanguard Group Inc. increased its holdings in shares of United Rentals by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock valued at $5,646,208,000 after acquiring an additional 72,267 shares during the period. Capital International Investors boosted its stake in United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares during the period. Capital World Investors boosted its stake in United Rentals by 6.7% during the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after purchasing an additional 168,685 shares during the period. JPMorgan Chase & Co. grew its position in United Rentals by 71.3% during the 2nd 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. Finally, Franklin Resources Inc. grew its position in United Rentals by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after purchasing an additional 83,978 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Up 0.3%

URI stock opened at $736.27 on Monday. The stock has a market capitalization of $46.39 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.66. The company has a fifty day moving average of $867.74 and a 200-day moving average of $880.48. 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, Inc. has a one year low of $525.91 and a one year high of $1,021.47.

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 analysts’ consensus estimates of $11.86 by ($0.77). The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $11.59 earnings per share. As a group, analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

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

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s payout ratio is presently 20.37%.

Insider Activity at United Rentals

In other news, EVP William E. Grace sold 1,498 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total transaction 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 represents a 17.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction that occurred 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 directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of a number of research reports. Robert W. Baird set a $970.00 target price on shares of United Rentals in a report on Friday, January 30th. Citigroup lowered their price target on United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price target on the stock in a research report on Sunday, January 4th. Sanford C. Bernstein set a $965.00 price objective on United Rentals in a research report on Friday, January 30th. Finally, KeyCorp set a $950.00 price objective on United Rentals in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals 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.