Everence Capital Management Inc. Raises Holdings in United Rentals, Inc. (NYSE:URI)

Everence Capital Management Inc. increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 15.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,770 shares of the construction company’s stock after purchasing an additional 240 shares during the period. Everence Capital Management Inc.’s holdings in United Rentals were worth $1,015,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of United Rentals in the 4th quarter valued at about $586,415,000. Moneta Group Investment Advisors LLC raised its holdings in shares of United Rentals by 104,089.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock valued at $476,961,000 after buying an additional 1,340,676 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of 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 buying an additional 1,041,281 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of United Rentals by 49.1% during the 1st quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock valued at $238,890,000 after buying an additional 221,613 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of United Rentals by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock valued at $2,905,379,000 after buying an additional 186,931 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 3.0 %

NYSE URI opened at $636.21 on Thursday. The stock’s 50 day moving average is $680.66 and its 200 day moving average is $568.62. The firm has a market capitalization of $42.73 billion, a PE ratio of 18.00, a P/E/G ratio of 2.27 and a beta of 1.84. United Rentals, Inc. has a twelve month low of $325.15 and a twelve 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 announced its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.74 earnings per share. Research analysts forecast that United Rentals, Inc. will post 43.13 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has approved a stock buyback program on Wednesday, January 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. United Rentals’s payout ratio is presently 18.44%.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was 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 $4,145,485.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

URI has been the topic of a number of research reports. Robert W. Baird raised their price objective on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Morgan Stanley started coverage on United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target on the stock. Barclays raised their price target on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th. BNP Paribas restated an “underperform” rating and set a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Finally, 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 report on Tuesday, February 20th. Three 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $589.21.

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.