Fountainhead AM LLC Makes New Investment in United Rentals, Inc. (NYSE:URI)

Fountainhead AM LLC purchased a new position in shares of United Rentals, Inc. (NYSE:URI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 425 shares of the construction company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in United Rentals by 6.4% during the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock worth $9,588,000 after purchasing an additional 1,304 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of United Rentals in the fourth quarter valued at approximately $2,351,000. Graybill Wealth Management LTD. raised its stake in shares of United Rentals by 0.6% in the third quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after acquiring an additional 58 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of United Rentals by 55.5% in the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after acquiring an additional 2,289 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of United Rentals in the fourth quarter valued at approximately $22,529,000. Institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on URI shares. Truist Financial started coverage on shares of United Rentals in a research note on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price for the company. Evercore ISI lifted their target price on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Wells Fargo & Company lifted their target price on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Robert W. Baird raised their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Finally, The Goldman Sachs Group raised their price target on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. 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. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and a consensus target price of $589.21.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the transaction, the chief financial officer now directly 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 available at the SEC website. Insiders own 0.49% of the company’s stock.

United Rentals Trading Up 5.2 %

URI traded up $32.69 during trading on Tuesday, reaching $661.99. 597,752 shares of the company’s stock were exchanged, compared to its average volume of 581,718. The company’s fifty day moving average price is $679.75 and its 200-day moving average price is $575.51. The firm has a market capitalization of $44.47 billion, a PE ratio of 18.73, a P/E/G ratio of 2.18 and a beta of 1.84. United Rentals, Inc. has a fifty-two week low of $325.15 and a fifty-two week high of $732.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81.

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 company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm posted $9.74 earnings per share. As a group, equities analysts forecast that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date was Tuesday, February 13th. United Rentals’s dividend payout ratio (DPR) is currently 18.44%.

United Rentals announced that its board has approved a stock repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.