Magnus Financial Group LLC Purchases New Stake in United Rentals, Inc. (NYSE:URI)

Magnus Financial Group LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 362 shares of the construction company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised 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 acquired a new stake in United Rentals during the fourth quarter worth about $2,351,000. Verdence Capital Advisors LLC bought a new position in United Rentals in the fourth quarter worth about $257,000. Graybill Wealth Management LTD. grew its holdings in shares of United Rentals by 0.6% during the third 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 during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of United Rentals by 55.5% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $712.62 on Tuesday. The stock’s fifty day simple moving average is $682.42 and its 200 day simple moving average is $582.31. The stock has a market capitalization of $47.45 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 2.10 and a beta of 1.84. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the company earned $7.95 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that United Rentals, Inc. will post 43.54 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a share 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 buy up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of a number of recent research reports. Oppenheimer restated a “market perform” rating on shares of United Rentals in a research note on Monday. Evercore ISI lifted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Stifel Nicolaus upped their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial lifted their price target on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays increased their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $600.79.

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.