PDS Planning Inc Makes New Investment in United Rentals, Inc. (NYSE:URI)

PDS Planning Inc purchased a new position in United Rentals, Inc. (NYSE:URI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 439 shares of the construction company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in shares of United Rentals by 6.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock valued at $9,588,000 after purchasing an additional 1,304 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of United Rentals in the 4th quarter valued at $2,351,000. Graybill Wealth Management LTD. boosted its stake in shares of United Rentals by 0.6% in the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after purchasing an additional 58 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after purchasing an additional 2,289 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of United Rentals in the 4th quarter valued at $22,529,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 5.2 %

Shares of NYSE URI opened at $661.99 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month high of $732.37. The firm has a market capitalization of $44.47 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84. The firm has a fifty day simple moving average of $679.75 and a two-hundred day simple moving average of $575.51.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, topping the consensus estimate of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the business earned $9.74 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts expect 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 stock buyback program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of research reports. Truist Financial initiated coverage on shares of United Rentals in a research note on Thursday, March 14th. They issued a “buy” rating and a $793.00 price objective for the company. Barclays increased their price target on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Morgan Stanley assumed coverage on shares of United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target for the company. The Goldman Sachs Group increased their price target on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird increased their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $589.21.

Insider Buying and Selling

In related news, CFO William E. Grace sold 775 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by company insiders.

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.