Sageworth Trust Co Invests $356,000 in United Rentals, Inc. $URI

Sageworth Trust Co acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 488 shares of the construction company’s stock, valued at approximately $356,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in United Rentals in the 4th quarter valued at $978,017,000. Corient Private Wealth LLC lifted its stake in United Rentals by 1,667.4% in the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after purchasing an additional 324,503 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after purchasing an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of United Rentals during the fourth quarter valued at about $102,945,000. Finally, Victory Capital Management Inc. grew its position in shares of United Rentals by 103.7% during the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock valued at $186,967,000 after purchasing an additional 117,584 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Fifteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,124.69.

United Rentals Stock Up 1.6%

Shares of NYSE URI opened at $1,072.78 on Thursday. The firm’s 50-day moving average price is $1,024.36 and its 200-day moving average price is $898.69. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $67.21 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.69 and a beta of 1.79. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the business posted $8.86 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that United Rentals, Inc. will post 46.76 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a $1.97 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is 20.10%.

Insider Buying and Selling

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,088 shares of company stock worth $25,628,877 in the last 90 days. Company insiders own 0.47% of the company’s stock.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.