Bessemer Group Inc. Reduces Holdings in United Rentals, Inc. $URI

Bessemer Group Inc. reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,947 shares of the construction company’s stock after selling 7,420 shares during the quarter. Bessemer Group Inc.’s holdings in United Rentals were worth $127,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in shares of United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares during the last quarter. TD Asset Management Inc boosted 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 purchasing an additional 193,416 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock worth $159,184,000 after purchasing an additional 191,162 shares during the last quarter. Capital World Investors boosted its stake in shares of United Rentals by 6.7% during the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after purchasing an additional 168,685 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of 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 worth $148,233,000 after purchasing an additional 150,412 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Trading Down 1.2%

Shares of URI stock opened at $961.22 on Friday. The stock has a market cap of $60.22 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.83. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a fifty-two week low of $681.98 and a fifty-two week high of $1,021.47. The firm’s 50 day moving average price is $818.01 and its two-hundred day moving average price is $839.18.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $8.86 earnings per share. On average, analysts anticipate that United Rentals, Inc. will post 47.07 EPS for the current year.

United Rentals announced that its board has authorized a stock repurchase plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be paid a $1.97 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is 20.10%.

Insider Activity

In related news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer owned 99,980 shares of the company’s stock, valued at $98,478,300.40. The trade was a 18.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction on 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 owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 in the last 90 days. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on URI. Citigroup raised their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings cut shares of United Rentals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price target on shares of United Rentals in a research note on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $996.94.

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.