Prudential PLC Increases Holdings in United Rentals, Inc. (NYSE:URI)

Posted by Defense World Staff on May 15th, 2023

Prudential PLC lifted its position in United Rentals, Inc. (NYSE:URI – Get Rating) by 75.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,776 shares of the construction company’s stock after purchasing an additional 2,057 shares during the quarter. Prudential PLC’s holdings in United Rentals were worth $1,697,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Kentucky Retirement Systems boosted its position in shares of United Rentals by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 5,502 shares of the construction company’s stock worth $1,956,000 after acquiring an additional 24 shares in the last quarter. Sentry Investment Management LLC boosted its position in shares of United Rentals by 5.4% during the 4th quarter. Sentry Investment Management LLC now owns 465 shares of the construction company’s stock worth $165,000 after acquiring an additional 24 shares in the last quarter. Oak Ridge Investments LLC boosted its position in shares of United Rentals by 0.5% in the 4th quarter. Oak Ridge Investments LLC now owns 5,622 shares of the construction company’s stock valued at $1,998,000 after purchasing an additional 28 shares during the period. RB Capital Management LLC boosted its position in shares of United Rentals by 3.7% in the 4th quarter. RB Capital Management LLC now owns 868 shares of the construction company’s stock valued at $309,000 after purchasing an additional 31 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of United Rentals by 62.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 86 shares of the construction company’s stock valued at $31,000 after purchasing an additional 33 shares during the period. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Rentals

In other news, CEO Matthew John Flannery sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $477.99, for a total transaction of $5,735,880.00. Following the sale, the chief executive officer now owns 101,276 shares in the company, valued at $48,408,915.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Matthew John Flannery sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $477.99, for a total transaction of $5,735,880.00. Following the sale, the chief executive officer now owns 101,276 shares in the company, valued at $48,408,915.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William E. Grace sold 725 shares of United Rentals stock in a transaction on Friday, April 28th. The shares were sold at an average price of $359.63, for a total value of $260,731.75. Following the completion of the transaction, the chief financial officer now owns 6,520 shares in the company, valued at approximately $2,344,787.60. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the subject of a number of research analyst reports. UBS Group decreased their target price on United Rentals from $490.00 to $458.00 in a research report on Friday, April 28th. Argus upped their target price on United Rentals from $360.00 to $475.00 in a research report on Tuesday, January 31st. Robert W. Baird downgraded United Rentals from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $425.00 to $300.00 in a research note on Monday, March 27th. KeyCorp reduced their price objective on United Rentals from $515.00 to $475.00 in a research note on Friday, April 28th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on United Rentals from $399.00 to $406.00 and gave the stock a “hold” rating in a research note on Wednesday, April 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $421.08.

United Rentals Price Performance

Shares of NYSE:URI opened at $331.66 on Monday. The business’s fifty day moving average price is $379.52 and its two-hundred day moving average price is $382.79. The stock has a market cap of $22.79 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.53 and a beta of 1.81. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.05 and a current ratio of 1.15. United Rentals, Inc. has a one year low of $230.54 and a one year high of $481.99.

United Rentals (NYSE:URI – Get Rating) last announced its earnings results on Wednesday, April 26th. The construction company reported $7.95 EPS for the quarter, missing analysts’ consensus estimates of $8.12 by ($0.17). The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.17 billion. United Rentals had a net margin of 17.65% and a return on equity of 36.77%. United Rentals’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.73 EPS. On average, analysts forecast that United Rentals, Inc. will post 39.96 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, May 9th. United Rentals’s dividend payout ratio (DPR) is 18.99%.

About United Rentals

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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.

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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