Signaturefd LLC Grows Stock Holdings in United Rentals, Inc. (NYSE:URI)

Signaturefd LLC raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,485 shares of the construction company’s stock after acquiring an additional 30 shares during the period. Signaturefd LLC’s holdings in United Rentals were worth $852,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in URI. OFI Invest Asset Management purchased a new stake in shares of United Rentals during the third quarter worth approximately $25,000. AdvisorNet Financial Inc raised its position in United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of United Rentals in the 3rd quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of United Rentals in the third quarter valued at about $40,000. Finally, Arlington Trust Co LLC increased its stake in shares of United Rentals by 50.0% during the fourth quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after acquiring an additional 28 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction that occurred on Thursday, February 15th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

United Rentals Stock Performance

United Rentals stock opened at $629.30 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month high of $732.37. The company has a market cap of $42.27 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84. The stock’s 50-day moving average is $679.24 and its 200-day moving average is $573.90.

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

United Rentals announced that its board has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $1.63 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, February 13th. United Rentals’s dividend payout ratio (DPR) is presently 18.44%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on URI. Wells Fargo & Company boosted their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Truist Financial started coverage on United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price for the company. Robert W. Baird increased their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. BNP Paribas reissued an “underperform” rating and set a $485.00 price objective on shares of United Rentals in a report on Friday, January 5th. Finally, The Goldman Sachs Group raised their target price on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $589.21.

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.