United Rentals, Inc. (NYSE:URI) Shares Sold by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC lowered its holdings in shares of United Rentals, Inc. (NYSE:URI) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516 shares of the construction company’s stock after selling 49 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in United Rentals were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in United Rentals by 58,829.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after purchasing an additional 1,041,281 shares in the last quarter. Invesco Ltd. lifted its stake in United Rentals by 19.1% in the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after buying an additional 149,838 shares in the last quarter. Northern Trust Corp boosted its holdings in United Rentals by 1.5% in the 3rd quarter. Northern Trust Corp now owns 680,217 shares of the construction company’s stock worth $302,404,000 after buying an additional 10,018 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in United Rentals by 12.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after buying an additional 72,066 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of United Rentals by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 418,051 shares of the construction company’s stock valued at $239,719,000 after acquiring an additional 6,655 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 0.5 %

URI stock traded up $3.57 during mid-day trading on Wednesday, hitting $677.84. 437,999 shares of the company were exchanged, compared to its average volume of 582,450. United Rentals, Inc. has a 12-month low of $325.91 and a 12-month high of $732.37. The firm has a market capitalization of $45.14 billion, a P/E ratio of 18.28, a PEG ratio of 2.17 and a beta of 1.82. The business has a fifty day simple moving average of $683.58 and a 200-day simple moving average of $592.43. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $7.95 EPS. On average, equities research analysts predict that United Rentals, Inc. will post 43.61 earnings per share for the current fiscal year.

United Rentals declared that its Board of Directors has approved a share buyback program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 3.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other United Rentals news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The disclosure for this sale can be found here. Insiders sold 9,713 shares of company stock worth $6,747,384 in the last three months. 0.49% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Truist Financial raised their price objective on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a report on Monday, April 29th. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Robert W. Baird upped their price objective on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus boosted their target price on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $600.79.

About United Rentals

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.