Patrick M Sweeney & Associates Inc. Invests $689,000 in United Rentals, Inc. (NYSE:URI)

Patrick M Sweeney & Associates Inc. acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the fourth quarter, HoldingsChannel reports. The fund acquired 1,202 shares of the construction company’s stock, valued at approximately $689,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in United Rentals by 6.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock worth $9,588,000 after purchasing an additional 1,304 shares during the period. Louisiana State Employees Retirement System purchased a new position in United Rentals in the 4th quarter valued at about $2,351,000. Verdence Capital Advisors LLC purchased a new position in United Rentals in the 4th quarter valued at about $257,000. Graybill Wealth Management LTD. boosted its position in United Rentals by 0.6% in the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after buying an additional 58 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after buying an additional 2,289 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on URI. Evercore ISI upped their price objective on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Stifel Nicolaus increased their price target on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Truist Financial increased their price target on shares of United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Three 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, United Rentals currently has an average rating of “Hold” and a consensus price target of $600.79.

United Rentals Trading Up 0.5 %

Shares of NYSE:URI traded up $3.57 during mid-day trading on Wednesday, hitting $677.84. The stock had a trading volume of 437,999 shares, compared to its average volume of 582,444. 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 company has a market cap of $45.14 billion, a PE ratio of 18.28, a P/E/G ratio of 2.17 and a beta of 1.82. United Rentals, Inc. has a 12-month low of $325.91 and a 12-month high of $732.37. The company’s 50 day moving average is $683.58 and its 200-day moving average is $592.43.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the firm earned $7.95 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that United Rentals, Inc. will post 43.61 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. United Rentals’s payout ratio is 17.66%.

United Rentals declared that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other United Rentals news, COO Michael D. Durand sold 559 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through this link. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction 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 completion of 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. Insiders sold a total of 9,713 shares of company stock worth $6,747,384 in the last quarter. 0.49% of the stock is currently owned by corporate insiders.

About United Rentals

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.