abrdn plc Increases Position in United Rentals, Inc. (NYSE:URI)

abrdn plc lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 57.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,578 shares of the construction company’s stock after purchasing an additional 11,840 shares during the period. abrdn plc’s holdings in United Rentals were worth $18,681,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in United Rentals during the 3rd quarter worth about $25,000. AdvisorNet Financial Inc lifted its stake in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. NBC Securities Inc. acquired a new position in United Rentals in the third quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in United Rentals in the third quarter valued at approximately $40,000. Finally, Arlington Trust Co LLC raised its holdings in 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 purchasing an additional 28 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

URI has been the topic of a number of recent analyst reports. Barclays increased their target price on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. The Goldman Sachs Group raised their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company boosted their target price on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Evercore ISI raised their price target on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird boosted their price objective on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average price target of $589.21.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction 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 directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Stock Down 0.9 %

Shares of United Rentals stock opened at $655.07 on Thursday. The company has a market cap of $44.00 billion, a P/E ratio of 18.53, a PEG ratio of 2.29 and a beta of 1.84. The firm has a fifty day moving average of $679.77 and a two-hundred day moving average of $576.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37.

United Rentals (NYSE:URI) last posted 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 $8.39 by $0.76. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the company posted $7.95 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. United Rentals’s dividend payout ratio (DPR) is presently 18.44%.

United Rentals declared that its board has authorized a stock repurchase plan on Wednesday, January 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.