Sapient Capital LLC Takes $1.42 Million Position in United Rentals, Inc. (NYSE:URI)

Sapient Capital LLC acquired a new stake in United Rentals, Inc. (NYSE:URI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,478 shares of the construction company’s stock, valued at approximately $1,421,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after acquiring an additional 1,041,281 shares in the last quarter. Invesco Ltd. grew its holdings in United Rentals by 19.1% during the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after purchasing an additional 149,838 shares in the last quarter. Northern Trust Corp increased its stake in United Rentals by 1.5% during the 3rd quarter. Northern Trust Corp now owns 680,217 shares of the construction company’s stock worth $302,404,000 after buying an additional 10,018 shares during the period. The Manufacturers Life Insurance Company increased its stake in United Rentals by 12.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after buying an additional 72,066 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in United Rentals by 9.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,872 shares of the construction company’s stock worth $173,770,000 after buying an additional 35,295 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. In related news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William E. Grace sold 775 shares of United Rentals 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 disclosure for this sale can be found here. Insiders sold 9,713 shares of company stock worth $6,747,384 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URI. Evercore ISI lifted their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Robert W. Baird upped their price target 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. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Truist Financial upped their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $600.79.

United Rentals Stock Performance

NYSE URI traded up $2.09 during trading hours on Friday, hitting $666.66. The company had a trading volume of 343,283 shares, compared to its average volume of 612,228. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The firm has a market cap of $44.39 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.17 and a beta of 1.82. United Rentals, Inc. has a fifty-two week low of $325.15 and a fifty-two week high of $732.37. The business has a fifty day simple moving average of $683.37 and a 200-day simple moving average of $586.57.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the company earned $7.95 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that United Rentals, Inc. will post 43.52 EPS for the current year.

United Rentals announced that its board has initiated a stock buyback program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, May 7th. United Rentals’s payout ratio is currently 17.66%.

United Rentals Company 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.