Novem Group Purchases Shares of 1,173 United Rentals, Inc. $URI

Novem Group purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,173 shares of the construction company’s stock, valued at approximately $949,000.

Several other hedge funds also recently made changes to their positions in the business. Aventura Private Wealth LLC bought a new stake in United Rentals during the fourth quarter worth approximately $27,000. Salomon & Ludwin LLC grew its position in United Rentals by 650.0% in the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of United Rentals in the third quarter valued at $29,000. Cedar Mountain Advisors LLC acquired a new stake in shares of United Rentals during the 3rd quarter valued at $32,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of United Rentals during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

URI stock opened at $807.16 on Wednesday. The firm has a 50 day simple moving average of $792.33 and a 200 day simple moving average of $841.99. United Rentals, Inc. has a 52 week low of $557.05 and a 52 week high of $1,021.47. The stock has a market cap of $50.76 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.31 and a beta of 1.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94.

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 the consensus estimate of $11.86 by ($0.77). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company posted $11.59 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that United Rentals, Inc. will post 46.6 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 1.0%. 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 (DPR) is presently 20.37%.

United Rentals announced that its Board of Directors has authorized a share buyback program on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wells Fargo & Company increased their price target on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Truist Financial set a $972.00 price objective on United Rentals in a report on Friday, January 30th. KeyCorp set a $950.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Citigroup decreased their target price on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, Robert W. Baird set a $970.00 price target on shares of United Rentals in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $914.88.

Insiders Place Their Bets

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.47% of the company’s stock.

About United Rentals

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.