Cwm LLC Sells 77 Shares of United Rentals, Inc. (NYSE:URI)

Cwm LLC decreased its holdings in United Rentals, Inc. (NYSE:URI) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,578 shares of the construction company’s stock after selling 77 shares during the quarter. Cwm LLC’s holdings in United Rentals were worth $2,625,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in URI. International Assets Investment Management LLC grew its stake in shares of United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after acquiring an additional 1,041,281 shares in the last quarter. Invesco Ltd. boosted its holdings in United Rentals by 19.1% during the third quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock worth $414,974,000 after purchasing an additional 149,838 shares during the last quarter. Northern Trust Corp grew its position 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 purchasing an additional 10,018 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock valued at $284,061,000 after buying an additional 72,066 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of United Rentals by 9.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,872 shares of the construction company’s stock worth $173,770,000 after buying an additional 35,295 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $690.92 on Friday. The company’s 50 day moving average is $680.37 and its 200-day moving average is $576.87. The firm has a market cap of $46.41 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.84. United Rentals, Inc. has a 12-month low of $325.15 and a 12-month high of $732.37. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.85%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the previous year, the firm posted $7.95 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts predict 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 repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 0.94%. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 775 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 target price for the company. Robert W. Baird raised their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Barclays boosted their price target on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Evercore ISI raised their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Truist Financial assumed coverage on shares of United Rentals in a research note on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price on the stock. Three 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. According to data from MarketBeat.com, United Rentals has an average rating of “Hold” and an average target price 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.