Parkside Financial Bank & Trust Buys 84 Shares of United Rentals, Inc. (NYSE:URI)

Parkside Financial Bank & Trust raised its stake in United Rentals, Inc. (NYSE:URI) by 8.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,042 shares of the construction company’s stock after purchasing an additional 84 shares during the quarter. Parkside Financial Bank & Trust’s holdings in United Rentals were worth $598,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its holdings in shares of United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of United Rentals during the 3rd quarter valued at $25,000. Larson Financial Group LLC grew its holdings in shares of United Rentals by 1,525.0% during the 4th quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock valued at $37,000 after purchasing an additional 61 shares during the last quarter. NBC Securities Inc. bought a new position in shares of United Rentals during the 3rd quarter valued at $29,000. Finally, Arlington Trust Co LLC grew its holdings in shares of United Rentals by 50.0% during the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock valued at $48,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on URI. Robert W. Baird increased their target price on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Morgan Stanley began coverage on shares of United Rentals in a report on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price on the stock. Evercore ISI increased their target price on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Truist Financial started coverage on shares of United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price target on the stock. Finally, Barclays raised their price target on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $589.21.

United Rentals Trading Up 5.2 %

Shares of NYSE:URI traded up $32.50 on Tuesday, hitting $661.80. The company had a trading volume of 405,975 shares, compared to its average volume of 578,989. The firm’s 50-day simple moving average is $679.24 and its two-hundred day simple moving average is $573.90. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $44.45 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 2.18 and a beta of 1.84.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the company posted $9.74 EPS. United Rentals’s revenue was up 13.1% on a year-over-year basis. Equities analysts anticipate that United Rentals, Inc. will post 43.13 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 28th. Investors of record on Wednesday, February 14th were given a dividend of $1.63 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Tuesday, February 13th. United Rentals’s dividend payout ratio (DPR) is 18.44%.

United Rentals announced that its board has authorized a share repurchase plan on Wednesday, January 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the transaction, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.