Los Angeles Capital Management LLC Sells 51,808 Shares of United Rentals, Inc. (NYSE:URI)

Los Angeles Capital Management LLC decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 86.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,465 shares of the construction company’s stock after selling 51,808 shares during the quarter. Los Angeles Capital Management LLC’s holdings in United Rentals were worth $4,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in URI. OFI Invest Asset Management bought a new stake in shares of United Rentals during the 3rd quarter worth about $25,000. AdvisorNet Financial Inc grew its position in shares of United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. NBC Securities Inc. bought a new position in shares of United Rentals during the third quarter worth approximately $29,000. Larson Financial Group LLC lifted its holdings in United Rentals by 1,525.0% during the 4th quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock worth $37,000 after purchasing an additional 61 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in United Rentals in the 3rd quarter valued at $40,000. 96.26% of the stock is owned by institutional investors.

Insider Transactions at United Rentals

In related 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 in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly 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 SEC, which can be accessed through the SEC website. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,713 shares of company stock worth $6,747,384. Insiders own 0.49% of the company’s stock.

United Rentals Price Performance

URI stock opened at $666.66 on Monday. The stock has a market cap of $44.39 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.17 and a beta of 1.82. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company has a 50 day simple moving average of $683.37 and a 200 day simple moving average of $588.62. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the business earned $7.95 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts anticipate that United Rentals, Inc. will post 43.61 EPS for the current fiscal year.

United Rentals announced that its board has authorized a stock buyback program on Wednesday, January 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Morgan Stanley initiated coverage on United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective on the stock. Robert W. Baird upped 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. Finally, Truist Financial increased their target price on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and an average price target of $600.79.

United Rentals 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.