United Rentals, Inc. (NYSE:URI) Shares Sold by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 517 shares of the construction company’s stock after selling 65 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in United Rentals were worth $296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its holdings in 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 acquiring an additional 20 shares during the period. OFI Invest Asset Management acquired a new position in shares of United Rentals during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC raised its stake in shares of United Rentals by 1,525.0% during the 4th quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock worth $37,000 after buying an additional 61 shares during the period. NBC Securities Inc. acquired a new position in shares of United Rentals during the 3rd quarter worth approximately $29,000. Finally, Arlington Trust Co LLC raised its stake in shares of United Rentals by 50.0% during the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of the 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 transaction, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

URI has been the subject of several research analyst reports. Morgan Stanley initiated coverage on United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price for the company. Evercore ISI upped their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. BNP Paribas reiterated an “underperform” rating and set a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Robert W. Baird boosted their price target on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Finally, Truist Financial assumed coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $589.21.

United Rentals Trading Up 5.2 %

NYSE:URI traded up $32.69 during trading hours on Tuesday, hitting $661.99. The company had a trading volume of 597,752 shares, compared to its average volume of 581,718. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The company has a market cap of $44.47 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.18 and a beta of 1.84. The company has a 50-day moving average of $679.75 and a 200 day moving average of $575.51. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. United Rentals’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $9.74 EPS. Sell-side analysts expect that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals declared that its board has approved a share repurchase plan on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

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

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.