K.J. Harrison & Partners Inc Takes $1.72 Million Position in United Rentals, Inc. (NYSE:URI)

K.J. Harrison & Partners Inc bought a new position in United Rentals, Inc. (NYSE:URI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,000 shares of the construction company’s stock, valued at approximately $1,720,000.

A number of other institutional investors have also bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in shares of United Rentals during the third quarter worth about $25,000. AdvisorNet Financial Inc raised its position in shares of United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after buying an additional 20 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of United Rentals during the third quarter valued at approximately $29,000. Larson Financial Group LLC lifted its holdings in shares of United Rentals by 1,525.0% in the fourth quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock worth $37,000 after buying an additional 61 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of United Rentals during the third quarter worth $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on URI shares. Stifel Nicolaus raised their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Evercore ISI increased their target price on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Truist Financial began coverage on shares of United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price on the stock. Finally, Barclays raised 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $600.57.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by insiders.

United Rentals Stock Down 0.0 %

NYSE URI traded down $0.15 on Friday, hitting $690.77. The stock had a trading volume of 581,706 shares, compared to its average volume of 588,042. The business’s fifty day moving average price is $681.18 and its 200 day moving average price is $578.63. The stock has a market cap of $46.40 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. United Rentals, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a return on equity of 36.85% and a net margin of 17.31%. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the business earned $7.95 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

United Rentals declared that its board has initiated a share repurchase program on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase 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 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.