Truist Financial Corp Purchases 708 Shares of United Rentals, Inc. $URI

Truist Financial Corp grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,609 shares of the construction company’s stock after acquiring an additional 708 shares during the period. Truist Financial Corp’s holdings in United Rentals were worth $12,633,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Abich Financial Wealth Management LLC acquired a new stake in United Rentals during the third quarter worth approximately $29,000. Aventura Private Wealth LLC acquired a new position in United Rentals in the fourth quarter valued at approximately $27,000. Cedar Mountain Advisors LLC bought a new position in shares of United Rentals during the 3rd quarter worth approximately $32,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of United Rentals during the 3rd quarter worth approximately $35,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of United Rentals during the 4th quarter worth approximately $32,000. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

URI opened at $942.69 on Friday. United Rentals, Inc. has a 1-year low of $656.95 and a 1-year high of $1,021.47. The company has a market cap of $59.06 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.53 and a beta of 1.83. The company’s fifty day moving average price is $805.22 and its two-hundred day moving average price is $838.92. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the business earned $8.86 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 46.99 EPS for the current fiscal year.

United Rentals declared that its board has authorized a stock buyback program on Wednesday, January 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s payout ratio is currently 20.10%.

Insider Activity

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares of the company’s stock, valued at $1,823,708.90. The trade was a 22.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

URI has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Truist Financial set a $1,209.00 price target on shares of United Rentals in a report on Friday, April 24th. Robert W. Baird lifted their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Sanford C. Bernstein set a $903.00 target price on United Rentals and gave the company an “outperform” rating in a research note on Thursday, April 9th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $986.35.

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.