Mirabaud & Cie SA Trims Stake in United Rentals, Inc. $URI

Mirabaud & Cie SA lowered its position in United Rentals, Inc. (NYSE:URI) by 51.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,400 shares of the construction company’s stock after selling 1,500 shares during the period. Mirabaud & Cie SA’s holdings in United Rentals were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of URI. Capital International Investors grew its stake in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after buying an additional 631,484 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of United Rentals by 66.5% during the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after acquiring an additional 193,416 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of United Rentals by 34,208.2% during the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after acquiring an additional 188,487 shares during the last quarter. Capital World Investors boosted its holdings in United Rentals by 6.7% during the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after acquiring an additional 168,685 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in United Rentals by 3,094.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company’s stock valued at $148,233,000 after acquiring an additional 150,412 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent analyst reports. KeyCorp set a $950.00 target price on United Rentals in a research note on Friday, January 30th. Truist Financial set a $972.00 target price on shares of United Rentals in a research note on Friday, January 30th. Robert W. Baird set a $970.00 price target on shares of United Rentals in a report on Friday, January 30th. Wells Fargo & Company raised their price target on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Sanford C. Bernstein set a $965.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Stock Performance

Shares of United Rentals stock opened at $731.65 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. The stock’s fifty day moving average price is $819.20 and its 200-day moving average price is $860.67. The firm has a market cap of $46.01 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.18 and a beta of 1.66. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the company earned $11.59 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, February 11th. This is a boost from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio is currently 20.37%.

United Rentals declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP William E. Grace sold 1,498 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the transaction, the executive vice president directly owned 6,872 shares in the company, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the transaction, the executive vice president directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by company insiders.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.