Cozad Asset Management Inc. Cuts Stock Position in United Rentals, Inc. (NYSE:URI)

Cozad Asset Management Inc. decreased its holdings in United Rentals, Inc. (NYSE:URI) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,470 shares of the construction company’s stock after selling 198 shares during the quarter. United Rentals accounts for approximately 1.5% of Cozad Asset Management Inc.’s holdings, making the stock its 10th biggest holding. Cozad Asset Management Inc.’s holdings in United Rentals were worth $12,885,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of URI. OFI Invest Asset Management acquired a new position in shares of United Rentals in the 3rd quarter valued at about $25,000. AdvisorNet Financial Inc boosted its position 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 purchasing an additional 20 shares in the last quarter. NBC Securities Inc. purchased a new position in United Rentals in the 3rd quarter worth about $29,000. Larson Financial Group LLC boosted its stake 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 worth $37,000 after acquiring an additional 61 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in United Rentals in the 3rd quarter worth approximately $40,000. Institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on URI shares. Evercore ISI boosted their price objective on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Morgan Stanley started coverage on shares of United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price on the stock. Oppenheimer restated a “market perform” rating on shares of United Rentals in a research note on Monday. The Goldman Sachs Group lifted their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Truist Financial upped their price objective on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and an average target price of $600.79.

United Rentals Stock Performance

URI stock traded down $38.70 during mid-day trading on Tuesday, hitting $673.99. The company had a trading volume of 541,757 shares, compared to its average volume of 586,596. The stock’s fifty day moving average price is $682.42 and its two-hundred day moving average price is $582.31. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month high of $732.37. The firm has a market cap of $44.88 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.10 and a beta of 1.84. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the business earned $7.95 earnings per share. United Rentals’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that United Rentals, Inc. will post 43.54 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has approved a stock buyback program on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is currently 17.66%.

United Rentals Profile

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.