Golden State Equity Partners Acquires 61 Shares of United Rentals, Inc. (NYSE:URI)

Golden State Equity Partners increased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 559 shares of the construction company’s stock after acquiring an additional 61 shares during the quarter. Golden State Equity Partners’ holdings in United Rentals were worth $321,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ballentine Partners LLC raised its stake in shares of United Rentals by 2.1% in the fourth quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock valued at $510,000 after buying an additional 18 shares during the period. DGS Capital Management LLC raised its stake in shares of United Rentals by 1.3% in the fourth quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock valued at $827,000 after buying an additional 18 shares during the period. Oak Ridge Investments LLC raised its stake in shares of United Rentals by 0.3% in the fourth quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock valued at $3,335,000 after buying an additional 20 shares during the period. Caprock Group LLC raised its stake in shares of United Rentals by 2.3% in the fourth quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock valued at $516,000 after buying an additional 20 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in shares of United Rentals by 71.4% in 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 period. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on URI. The Goldman Sachs Group boosted their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company boosted their target price on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Evercore ISI boosted their price objective on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial started coverage on United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, United Rentals currently has a consensus rating of “Hold” and an average target price of $600.57.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $690.80 on Friday. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37. The business has a 50-day simple moving average of $681.18 and a 200 day simple moving average of $579.53. The company has a quick ratio of 0.75, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The stock has a market cap of $46.00 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.40 and a beta of 1.84.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the business earned $7.95 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that United Rentals, Inc. will post 43.54 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is currently 17.66%.

United Rentals announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About United Rentals

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.