U S Wealth Group LLC. lowered its position in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 36.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,349 shares of the construction company’s stock after selling 1,351 shares during the period. U S Wealth Group LLC.’s holdings in United Rentals were worth $1,901,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in United Rentals in the fourth quarter valued at $978,017,000. Capital International Investors boosted its position in shares of United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of United Rentals by 1,667.4% during 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 during the period. TD Asset Management Inc grew its stake in shares of United Rentals by 66.5% during the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after purchasing an additional 193,416 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of United Rentals by 3,459.3% in 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 in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. Truist Financial set a $1,209.00 target price on shares of United Rentals in a research report on Friday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,030.00 target price on shares of United Rentals in a report on Friday, April 24th. Robert W. Baird lifted their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, KeyCorp boosted their price target on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,045.81.
United Rentals Price Performance
United Rentals stock opened at $1,077.68 on Friday. United Rentals, Inc. has a 52 week low of $693.78 and a 52 week high of $1,106.88. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The firm’s 50-day simple moving average is $953.75 and its 200 day simple moving average is $871.26. The firm has a market capitalization of $67.52 billion, a PE ratio of 27.49, a P/E/G ratio of 1.70 and a beta of 1.81.
United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.86 earnings per share. On average, equities research analysts predict that United Rentals, Inc. will post 47.26 EPS for the current fiscal year.
United Rentals Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s payout ratio is presently 20.10%.
Insider Activity
In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares in the company, valued at $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 valued at $25,628,877 in the last 90 days. Company insiders own 0.47% of the company’s stock.
United Rentals Profile
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.
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