Wedge Capital Management L L P NC Has $15.84 Million Stock Holdings in United Rentals, Inc. (NYSE:URI)

Wedge Capital Management L L P NC lessened its position in United Rentals, Inc. (NYSE:URI) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,628 shares of the construction company’s stock after selling 4,209 shares during the quarter. Wedge Capital Management L L P NC’s holdings in United Rentals were worth $15,842,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in United Rentals by 3.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,770 shares of the construction company’s stock worth $790,000 after purchasing an additional 60 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of United Rentals in the third quarter valued at approximately $217,000. Impact Partnership Wealth LLC lifted its holdings in shares of United Rentals by 282.4% in the third quarter. Impact Partnership Wealth LLC now owns 130 shares of the construction company’s stock valued at $58,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in United Rentals by 15.5% in the third quarter. GHP Investment Advisors Inc. now owns 8,821 shares of the construction company’s stock worth $3,820,000 after purchasing an additional 1,181 shares during the last quarter. Finally, Argus Investors Counsel Inc. boosted its position in United Rentals by 6.4% in the third quarter. Argus Investors Counsel Inc. now owns 2,776 shares of the construction company’s stock worth $1,234,000 after purchasing an additional 167 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated Thursday, February 15th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial began coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 target price for the company. Robert W. Baird increased their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. BNP Paribas reiterated an “underperform” rating and issued a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Wells Fargo & Company increased their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group raised their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus target price of $589.21.

United Rentals Trading Up 4.9 %

URI stock traded up $30.79 during trading on Tuesday, reaching $660.09. 123,681 shares of the stock traded hands, compared to its average volume of 574,939. The business’s 50 day moving average price is $679.24 and its 200-day moving average price is $573.90. United Rentals, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The firm has a market capitalization of $44.34 billion, a PE ratio of 17.80, a P/E/G ratio of 2.18 and a beta of 1.84.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $9.74 EPS. As a group, sell-side analysts forecast that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals declared that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows 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 leadership believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. This is a positive change from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Tuesday, February 13th. United Rentals’s dividend payout ratio (DPR) is currently 18.44%.

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.