M&T Bank Corp Purchases 368 Shares of United Rentals, Inc. (NYSE:URI)

M&T Bank Corp grew its position in United Rentals, Inc. (NYSE:URI) by 7.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,652 shares of the construction company’s stock after buying 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 filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position in shares of United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after acquiring an additional 20 shares during the period. OFI Invest Asset Management acquired a new stake in United Rentals during the 3rd quarter valued at $25,000. Larson Financial Group LLC increased 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 valued at $37,000 after purchasing an additional 61 shares in the last quarter. NBC Securities Inc. acquired a new stake in United Rentals during the 3rd quarter valued at $29,000. Finally, Arlington Trust Co LLC increased its holdings in United Rentals by 50.0% during the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock valued at $48,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on URI. Truist Financial raised their price target on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a report on Monday, April 29th. Stifel Nicolaus lifted their target price on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group lifted their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lifted their target price on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Barclays lifted their target price on United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $600.79.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Michael D. Durand sold 559 shares of the company’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 in the company, valued at $5,431,557.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William E. Grace sold 775 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,713 shares of company stock valued at $6,747,384. 0.49% of the stock is owned by insiders.

United Rentals Price Performance

Shares of URI opened at $674.88 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The firm has a market capitalization of $44.94 billion, a PE ratio of 18.28, a P/E/G ratio of 2.17 and a beta of 1.82. The stock has a 50 day simple moving average of $683.58 and a 200 day simple moving average of $592.43. United Rentals, Inc. has a 52-week low of $325.91 and a 52-week high of $732.37.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 17.31% and a return on equity of 36.44%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $7.95 earnings per share. Sell-side analysts predict that United Rentals, Inc. will post 43.61 EPS for the current fiscal year.

United Rentals Announces Dividend

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

United Rentals declared that its Board of Directors has approved a share 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 buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally an indication 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.