M&T Bank Corp Boosts Stock Position in United Rentals, Inc. (NYSE:URI)

M&T Bank Corp raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,652 shares of the construction company’s stock after acquiring an additional 368 shares during the period. M&T Bank Corp’s holdings in United Rentals were worth $3,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after acquiring an additional 1,041,281 shares during the last quarter. Invesco Ltd. raised its stake in United Rentals by 19.1% during the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after acquiring an additional 149,838 shares during the last quarter. Northern Trust Corp raised its stake in United Rentals by 1.5% during the 3rd quarter. Northern Trust Corp now owns 680,217 shares of the construction company’s stock valued at $302,404,000 after acquiring an additional 10,018 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of 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, Deutsche Bank AG raised its stake in shares of United Rentals by 88.1% during the 3rd quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock worth $161,001,000 after buying an additional 169,586 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

NYSE URI opened at $674.88 on Wednesday. The firm has a market capitalization of $44.94 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.17 and a beta of 1.82. United Rentals, Inc. has a 1-year low of $325.91 and a 1-year high of $732.37. 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 business’s 50-day simple moving average is $683.58 and its 200-day simple moving average is $592.43.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $7.95 EPS. Equities analysts predict that United Rentals, Inc. will post 43.61 EPS for the current year.

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

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insider Buying and Selling

In related news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals 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 directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,713 shares of company stock valued at $6,747,384. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URI. Robert W. Baird increased their target price on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Evercore ISI increased their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Stifel Nicolaus boosted their target price on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group increased their price target on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company upped their target price on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.