New York Life Investment Management LLC Decreases Stock Holdings in United Rentals, Inc. (NYSE:URI)

New York Life Investment Management LLC lowered its holdings in shares of United Rentals, Inc. (NYSE:URI) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,609 shares of the construction company’s stock after selling 35 shares during the quarter. New York Life Investment Management LLC’s holdings in United Rentals were worth $6,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. RB Capital Management LLC grew its position in United Rentals by 2.2% in the fourth quarter. RB Capital Management LLC now owns 2,320 shares of the construction company’s stock worth $1,330,000 after acquiring an additional 49 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of United Rentals by 46.2% in the 4th quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock worth $56,982,000 after purchasing an additional 31,398 shares during the period. Mach 1 Financial Group LLC bought a new position in shares of United Rentals during the 4th quarter valued at approximately $274,000. Alpha Cubed Investments LLC purchased a new stake in United Rentals during the 4th quarter valued at $280,000. Finally, Brighton Jones LLC bought a new stake in United Rentals in the fourth quarter worth $200,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Up 0.3 %

NYSE:URI opened at $666.66 on Friday. 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 firm has a market cap of $44.39 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.17 and a beta of 1.82. The company has a 50-day moving average of $683.37 and a 200 day moving average of $586.57. 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 for the quarter, topping the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.95 EPS. As a group, research analysts anticipate that United Rentals, Inc. will post 43.52 EPS for the current fiscal year.

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

United Rentals Dividend Announcement

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

Insider Transactions at United Rentals

In related news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $508,105.50. Following the completion of the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The disclosure for this sale can be found here. In the last three months, insiders sold 9,713 shares of company stock valued at $6,747,384. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on URI. Morgan Stanley started coverage on shares of United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective on the stock. Robert W. Baird increased their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. The Goldman Sachs Group boosted their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Truist Financial raised their price target on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Hold” and a consensus target price of $600.79.

United Rentals Company 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.