Keel Point LLC Has $1.81 Million Stock Position in United Rentals, Inc. $URI

Keel Point LLC cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 32.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,899 shares of the construction company’s stock after selling 926 shares during the period. Keel Point LLC’s holdings in United Rentals were worth $1,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Optas LLC boosted its stake in United Rentals by 0.9% during the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock valued at $1,121,000 after purchasing an additional 10 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of United Rentals by 0.5% in the second quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock worth $1,720,000 after purchasing an additional 11 shares during the last quarter. OFI Invest Asset Management lifted its holdings in shares of United Rentals by 6.7% in the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock valued at $167,000 after purchasing an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after purchasing an additional 11 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its position in shares of United Rentals by 2.7% during the third quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company’s stock valued at $430,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

URI stock opened at $725.37 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. The firm has a market cap of $45.70 billion, a PE ratio of 18.75, a P/E/G ratio of 1.20 and a beta of 1.66. The business has a 50 day moving average of $858.72 and a 200-day moving average of $876.41. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing the consensus estimate of $11.86 by ($0.77). The business had revenue of $4.21 billion during 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% on a year-over-year basis. During the same period in the prior year, the firm posted $11.59 EPS. As a group, sell-side analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were issued a $1.97 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.1%. United Rentals’s payout ratio is presently 20.37%.

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

Wall Street Analyst Weigh In

URI has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Wells Fargo & Company raised their price objective on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective on the stock in a report on Sunday, January 4th. Robert W. Baird set a $970.00 target price on shares of United Rentals in a research note on Friday, January 30th. Finally, Royal Bank Of Canada lowered their target price on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $925.59.

Insider Transactions at United Rentals

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction dated 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 sale, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.53% 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.