Summit Financial LLC Has $4.60 Million Position in United Rentals, Inc. (NYSE:URI)

Summit Financial LLC lifted its holdings in United Rentals, Inc. (NYSE:URI) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,015 shares of the construction company’s stock after buying an additional 629 shares during the period. Summit Financial LLC’s holdings in United Rentals were worth $4,596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of URI. Ballentine Partners LLC lifted its position in United Rentals by 2.1% in the 4th quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock worth $510,000 after buying an additional 18 shares in the last quarter. DGS Capital Management LLC raised its holdings in shares of United Rentals by 1.3% during the fourth quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock worth $827,000 after acquiring an additional 18 shares in the last quarter. Oak Ridge Investments LLC boosted its position in United Rentals by 0.3% during the fourth quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock valued at $3,335,000 after purchasing an additional 20 shares during the last quarter. Caprock Group LLC grew its stake in 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 purchasing an additional 20 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 775 shares of the stock in a transaction on 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 owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO William E. Grace sold 775 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on URI. Morgan Stanley assumed coverage on United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective on the stock. Wells Fargo & Company raised their price target on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday. Stifel Nicolaus raised their target price on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, BNP Paribas reiterated an “underperform” rating and set a $485.00 price target on shares of United Rentals in a research note on Friday, January 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $600.79.

United Rentals Stock Performance

Shares of United Rentals stock traded down $14.23 during midday trading on Wednesday, hitting $653.76. The company had a trading volume of 584,407 shares, compared to its average volume of 594,075. The business’s 50 day simple moving average is $682.90 and its two-hundred day simple moving average is $583.96. The stock has a market cap of $43.53 billion, a PE ratio of 17.77, a P/E/G ratio of 2.33 and a beta of 1.84. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $3.44 billion. During the same period in the previous year, the company posted $7.95 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that United Rentals, Inc. will post 43.39 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $1.63 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 1.00%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

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.