Magnus Financial Group LLC Takes $207,000 Position in United Rentals, Inc. (NYSE:URI)

Magnus Financial Group LLC purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 362 shares of the construction company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in URI. Exchange Traded Concepts LLC bought a new stake in United Rentals during the 3rd quarter valued at $281,000. Handelsbanken Fonder AB raised its holdings in shares of United Rentals by 4.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,429 shares of the construction company’s stock worth $5,081,000 after acquiring an additional 486 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in United Rentals by 21.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 616 shares of the construction company’s stock valued at $274,000 after acquiring an additional 108 shares in the last quarter. Golden State Equity Partners acquired a new position in United Rentals during the 3rd quarter valued at about $221,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of United Rentals by 1.0% during the third quarter. Commonwealth Equity Services LLC now owns 44,623 shares of the construction company’s stock valued at $19,838,000 after buying an additional 446 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 3.2 %

NYSE:URI opened at $712.62 on Tuesday. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37. The stock’s fifty day moving average price is $682.42 and its two-hundred day moving average price is $582.31. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $47.45 billion, a P/E ratio of 19.30, a P/E/G ratio of 2.10 and a beta of 1.84.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the prior year, the firm posted $7.95 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that United Rentals, Inc. will post 43.54 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s dividend payout ratio is presently 17.66%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on URI shares. Wells Fargo & Company increased their price objective on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Evercore ISI lifted their price target on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. 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. Robert W. Baird raised their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Finally, Barclays boosted 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 equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $600.79.

Insider Buying and Selling at United Rentals

In related news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction 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 sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.

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.