Foundations Investment Advisors LLC Cuts Holdings in United Rentals, Inc. (NYSE:URI)

Posted by Defense World Staff on Mar 21st, 2023

Foundations Investment Advisors LLC decreased its stake in shares of United Rentals, Inc. (NYSE:URI – Get Rating) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 841 shares of the construction company’s stock after selling 137 shares during the quarter. Foundations Investment Advisors LLC’s holdings in United Rentals were worth $299,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of URI. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in United Rentals by 7,691.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,506 shares of the construction company’s stock worth $1,245,000 after purchasing an additional 3,461 shares during the period. Raymond James Trust N.A. increased its holdings in United Rentals by 14.6% during the 1st quarter. Raymond James Trust N.A. now owns 2,296 shares of the construction company’s stock worth $815,000 after purchasing an additional 293 shares during the period. Cibc World Market Inc. increased its holdings in United Rentals by 16.8% during the 1st quarter. Cibc World Market Inc. now owns 7,941 shares of the construction company’s stock worth $2,821,000 after purchasing an additional 1,140 shares during the period. Sei Investments Co. increased its holdings in United Rentals by 50.1% during the 1st quarter. Sei Investments Co. now owns 1,914 shares of the construction company’s stock worth $678,000 after purchasing an additional 639 shares during the period. Finally, Prudential PLC purchased a new stake in United Rentals during the 1st quarter worth about $560,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on URI. Stifel Nicolaus increased their price objective on United Rentals from $450.00 to $505.00 and gave the company a “buy” rating in a report on Friday, January 27th. Wells Fargo & Company increased their price objective on United Rentals from $435.00 to $440.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Citigroup increased their price objective on United Rentals to $415.00 in a report on Wednesday, December 14th. The Goldman Sachs Group increased their price objective on United Rentals from $380.00 to $436.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Finally, Barclays increased their price objective on United Rentals from $300.00 to $350.00 and gave the company an “underweight” rating in a report on Friday, January 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of “Hold” and an average target price of $440.46.

Insiders Place Their Bets

In other United Rentals news, COO Dale A. Asplund sold 13,392 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $436.26, for a total transaction of $5,842,393.92. Following the completion of the sale, the chief operating officer now directly owns 19,229 shares of the company’s stock, valued at approximately $8,388,843.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Dale A. Asplund sold 13,392 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $436.26, for a total transaction of $5,842,393.92. Following the completion of the transaction, the chief operating officer now directly owns 19,229 shares of the company’s stock, valued at approximately $8,388,843.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Andrew B. Limoges sold 519 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $432.00, for a total value of $224,208.00. Following the transaction, the vice president now directly owns 2,235 shares of the company’s stock, valued at $965,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,672 shares of company stock valued at $13,871,422. 0.53% of the stock is owned by company insiders.

United Rentals Stock Up 2.3 %

Shares of NYSE URI opened at $378.45 on Tuesday. United Rentals, Inc. has a 52-week low of $230.54 and a 52-week high of $481.99. The business has a 50-day moving average price of $432.02 and a 200 day moving average price of $360.67. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.59. The stock has a market cap of $26.23 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.54 and a beta of 1.85.

United Rentals (NYSE:URI – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The construction company reported $9.74 earnings per share for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.38). United Rentals had a return on equity of 36.12% and a net margin of 18.08%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the business posted $7.39 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. Equities research analysts forecast that United Rentals, Inc. will post 41.69 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Wednesday, February 8th were given a dividend of $1.48 per share. The ex-dividend date was Tuesday, February 7th. This represents a $5.92 dividend on an annualized basis and a yield of 1.56%. United Rentals’s payout ratio is 4.97%.

United Rentals Profile

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United Rentals, Inc engages in the equipment rental business. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities. The Specialty segment focuses on the rental of specialty construction products such as trench safety equipment, power and HVAC equipment, fluid solutions equipment, mobile storage equipment and modular office space.