Kraft Davis & Associates LLC Makes New Investment in United Rentals, Inc. (NYSE:URI)

Kraft Davis & Associates LLC acquired a new position in United Rentals, Inc. (NYSE:URI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 454 shares of the construction company’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of United Rentals in the 3rd quarter worth about $25,000. MUFG Americas Holdings Corp boosted its holdings in shares of United Rentals by 1,900.0% in the 3rd quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock worth $27,000 after purchasing an additional 95 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in United Rentals during the 2nd quarter valued at about $27,000. AdvisorNet Financial Inc boosted its holdings in United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Finally, NBC Securities Inc. purchased a new stake in United Rentals during the 3rd quarter valued at about $29,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on URI. 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 report on Tuesday. BNP Paribas restated an “underperform” rating and set a $485.00 target price on shares of United Rentals in a report on Friday, January 5th. Truist Financial assumed coverage on United Rentals in a report on Thursday, March 14th. They set a “buy” rating and a $793.00 target price for the company. Barclays increased their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Finally, Morgan Stanley assumed coverage on United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $589.21.

United Rentals Stock Down 0.7 %

Shares of NYSE:URI traded down $4.54 during trading on Friday, hitting $628.34. The stock had a trading volume of 572,520 shares, compared to its average volume of 579,070. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month 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 company has a market capitalization of $42.21 billion, a PE ratio of 17.77, a PEG ratio of 2.21 and a beta of 1.84. The firm’s fifty day moving average is $679.93 and its 200 day moving average is $570.39.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $9.74 EPS. Analysts anticipate that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $1.63 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, February 13th. United Rentals’s dividend payout ratio (DPR) is 18.44%.

United Rentals declared that its board has authorized a stock buyback plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions 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 transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

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.