Watershed Asset Management L.L.C. Lowers Stake in United Rentals, Inc. (NYSE:URI)

Watershed Asset Management L.L.C. lessened its position in shares of United Rentals, Inc. (NYSE:URI) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 517 shares of the construction company’s stock after selling 65 shares during the period. Watershed Asset Management L.L.C.’s holdings in United Rentals were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in URI. OFI Invest Asset Management purchased a new stake in United Rentals during the third quarter valued at about $25,000. AdvisorNet Financial Inc grew its position in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. NBC Securities Inc. purchased a new stake in United Rentals during the third quarter valued at about $29,000. Larson Financial Group LLC grew its position in United Rentals by 1,525.0% during the fourth quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock valued at $37,000 after acquiring an additional 61 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in United Rentals during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial started coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price target for the company. The Goldman Sachs Group boosted their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. BNP Paribas restated an “underperform” rating and set a $485.00 price objective on shares of United Rentals in a research note on Friday, January 5th. Wells Fargo & Company boosted their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Evercore ISI boosted their price objective on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $589.21.

United Rentals Stock Up 5.2 %

Shares of NYSE:URI traded up $32.69 during trading on Tuesday, hitting $661.99. The company’s stock had a trading volume of 597,752 shares, compared to its average volume of 581,718. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. United Rentals, Inc. has a fifty-two week low of $325.15 and a fifty-two week high of $732.37. The stock’s 50-day moving average price is $679.75 and its two-hundred day moving average price is $575.51. The company has a market capitalization of $44.47 billion, a PE ratio of 18.73, a PEG ratio of 2.18 and a beta of 1.84.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, topping the consensus estimate of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts expect that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $6.52 annualized dividend and a yield of 0.98%. This is a boost from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio is presently 18.44%.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.